Sports, media & entertainment insurance

The sports, media and entertainment sector is home to an extraordinarily diverse array of companies, competitors, performers, venues and audiences. Hosting sporting events, creating media content and producing live shows is fraught with risk.

The entertainment industry faces growing risks and exposures. Extreme weather, power failure, public liability and terrorism reflect some of the on-going challenges and uncertainty threatening the success of events.

We have an established expertise in identifying, quantifying and managing these risks and can design bespoke insurance programmes, that provide the financial backstop required when the unexpected happens.

We understand that every client is different. By gaining an understanding of your business strategy and goals, we design your insurance programme and risk management consultancy to meet your specific needs.

KEY SECTORS

WHAT WE DO

We design insurance programmes and risk management solutions for the entertainment industry. The members of our team are the leading practitioners in this highly specialised and demanding class of business.

Our team has experience working with event organisers, venue owners, artists, agents, tour managers, promoters, broadcasters, media agencies, retailers and sponsors.

We service clients in the following industries: live music, events, conferences, exhibitions, council, theatre, broadcast and media.

Our team of industry specialists range across the entire spectrum of sports, media and entertainment and have previously worked with the owners, organisers, and stakeholders of the world’s major sporting organisations, events, production companies and advertising agencies.

Our deep expertise and entrepreneurial culture gives us the insights, creative freedom and tenacity to go beyond the routine.

JLT offers bespoke solutions that protect risks within sport, content production and live entertainment. Risks can range from a career ending injury for a footballer to the non-appearance of a music star.

FAQs

Despite the most meticulous organisation, circumstances may arise which could stop your event from proceeding as planned. This is likely to have a significant effect on your financial situation and you may need to recover your financial loss or outlay on costs and expenses through event cancellation insurance. If it is possible for the event to proceed, perhaps at an alternative location or at a later date, this insurance will meet the reasonable additional expenses incurred in pursuit of this being achieved.

You may also find you are unable to vacate the premises due to an unforeseeable event such as inability to access the venue. The delay in leaving a venue often attracts a financial penalty, which can be covered. In addition to your own costs you also need to pay particular attention to potential financial loss which may arise out of contractual relationships with sponsors or through loss of costs, expenses and guarantees which are not recoverable such as commitments to hotels, venues, caterers or other service providers.

Across the globe competitions with ‘big ticket’ prizes have become extremely popular for organisations with retail operations as a way to stimulate sales. If a strategy is implemented successfully there is huge opportunity for increased brand awareness, new customers and inflated revenues.

Some of these competitions which relate to sporting or seasonal events can be quite costly, however, JLT has a team of experts who are able to provide advice and build tailored solutions for businesses to mitigate against the cost of such prizes being claimed.

Weather impacts nearly all businesses either directly or indirectly, but the vast majority of companies just accept this and self-manage the risks or only insure against catastrophe business interruption scenarios. Most insurance buyers don’t realise there are opportunities to use parametric insurance to benefit from the unpredictable nature of weather – some of these include:

  • Balance sheet protection (revenue smoothing)
  • Business interruption e.g. construction and marine
  • Weather promotions
  • TV/Film shoots
  • Pluvious cover
  • Stabilising income

Key Facts

40,000 live music events across the globe1000+ TV commercials insured by JLT30+ international federations clients represented1980 our international federation team was established

WHY JLT

JLT Specialty is one of the world’s leading providers of insurance broking, risk management and claims services. We are industry experts. We offer distinctive solutions, exceptional service and independent choice.

Still not sure if we’re the right broker for you? Here are some more reasons to trust our team:

  • We advise clients without influence or bias and value innovation and creativity
  • We recruit talented people who are passionate, professional and committed to our clients
  • Our ‘can do’ attitudes guarantees a hands on approach until you are satisfied that you have the best result
  • Our flat management structure enables us to be flexible and responsive and ensures our senior team is involved in the servicing of accounts
  • We pride ourselves on being accessible and flexible. We know this is crucial to your business and so we are available whenever you need us. Not just between the standard 9 to 5
  • We have the tenacity and desire to disrupt the market status quo and drive the insurance market forward with cutting-edge solutions. We pride ourselves in being seen as market leaders.

Our business model is rare and JLT are rapidly earning a reputation that is attracting an increasing number of different clients across the globe.

Case Studies

Sport Media and Entertainment

Ground breaking contingency solution

A contract made between a sports personality and a brand stated that the personality must show the brand’s logo visibly on their clothing e.g. football boots for a certain number of games or hours on television. However, if the sports personality becomes injured and unfit to play, the contract will not be fulfilled. JLT's entertainment team provided a ground-breaking contingency solution, contract specific to protect both the brand and individual from failing to meet the minimum requirements of visible airtime.

Sport Media and Entertainment

Event cancellation

A major overseas sports event was cancelled due to substantial flooding which caused property damage and loss of life a few days prior. Although the location itself wasn’t damaged, a local authority still took the decision to cancel the event. Under the Civil Authorities extra expense extension, the insurer paid the incurred and committed costs that the production company contracted to provide the live television broadcast sustained.

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