Why has my premium changed?

Our photographers policies are offered on a program basis that is renewed annually with the insurance company Chubb Canada. During this year’s renewal, Chubb has required revised terms in order to continue offering the program. The increase in premiums is largely due to the high number and cost of claims paid out under this program.

Premiums are collected and kept in reserve in order to pay out claims as they arise. The insurance company must anticipate how much premium they will need to collect in order to have the funds available to pay out losses when they occur. In layman’s terms, they have to make an educated guess.

Now that the Photographer’s program is three years old (launched September 2015), Chubb has more information about the photographers program, and it can base its predictions for future anticipated losses on the existing claims record. The changes in premiums this year are a reflection of the loss ratio on the photographers program (total losses : total premiums). In order for an insurance program to remain viable, the amount paid out in losses cannot exceed the amount collected in premiums.

Our job as insurance brokers is to make sure that the insurance company does not increase their rates arbitrarily or in excess of what another company might offer for similar coverage. We are still confident that our photographers program has the best rates available in the marketplace, and these rate changes will ensure that we can continue to offer a photographers program for years to come.

 

Please see below a summary of changes that may explain some of the difference seen on renewal terms. If you would like to discuss the changes to your renewal premium further, please do not hesitate to contact our office.

 

Summary of changes

There is now a minimum premium of $100 on equipment within Canada/USA ($125 for Out of Country). For many policies, this would not result in a premium increase as the equipment premium was already +$100.

The basic rate has increased by approximately 10%, with different rates for high value equipment and selected coverage territory.

There are new deductibles for Theft From an Unattended Vehicle ($2,500 deductible) and claims Out of Country ($750 deductible).

Rates for liability have increased between $10-20 per year, depending on the selected limit, and the enhanced coverage has increased by $15 per year.

To offset these changes, we have lowered our agency fee to $90.

Which Insurance Company issues the policy?

The insurance company is Chubb Insurance Company of Canada. Chubb Insurance Company of Canada is a member of the Chubb Group of Insurance Companies. For over 85 years, we have been delivering exceptional property and casualty insurance products to businesses and individuals in Canada.

Click here to:  view the Financial Strength of Chubb

Where and When is Equipment Covered?

All equipment is full replacement cost coverage for: theft, damage, breakage, fire and loss of use. This includes damage caused by Earthquake and Flood.

The coverage is included while in your studio/office/home for storage, while in transit to and from your shoots, and while being used away from your premises anywhere subject to the territorial limit you select (either Canada/USA only or Limited Worldwide *).

Note that there is no coverage for property while rented, leased or loaned to others.

This policy does not provide coverage for any wear and tear or deterioration of the camera. These items would not be considered insurable under any insurance policy.

Inherent vice and latent defects are also not insurable risks. As these are manufacturing faults, they would need to be covered under a product warranty, not an insurance policy. It is the manufacturer’s responsibility to ensure that all products are in working condition.

Theft from Unattended Vehicle: This Insurance does not apply to loss or damage caused by or resulting from theft from an unattended vehicle owned, operated or leased by you. However, this Theft from Unattended Vehicle exclusion does not apply to loss or damage caused by or resulting from hold-up, or when there is visible evidence of forcible entry to such vehicles. When a claim for Theft from an Unattended Vehicle is eligible for coverage, it would be subject to a $2,500 deductible. 

Coverage Territory: The basic policy provides coverage within Canada and the United States of America only. For additional premium, coverage may be purchased on a Limited Worldwide basis – meaning the insurance applies anywhere in the world, except where the insurance carrier (Chubb Canada) is legally prohibited from providing insurance.  If you have purchased a Limited Worldwide policy, equipment coverage while outside of Canada/USA extends for a maximum of 90 days total during your annual policy term. Out of Country claims (outside Canada/USA) are subject to a $750 deductible.

You can reference this Canadian government website to find a list of current sanctions in place:   http://www.international.gc.ca/sanctions/countries-pays/index.aspx?lang=eng.  Coverage will not apply in any country that has an active sanction listed on this website. 

Stunts, Underwater Pyrotechnics, or in Air activities Coverage explained.

There is NO coverage under this policy for equipment being used underwater, for pyrotechnic activities or stunts, while attached to an aircraft or watercraft unless declared and approved by underwriting. This includes the use of UAV/Drones.

Rent/Loan your equipment to others?

There is NO coverage under this policy for equipment while loaned, rented or leased to others. It is the responsibility of the insured to make sure the third party provides their own insurance for the equipment while in their care, custody and control. We recommend that you always have a rental agreement in place and request a certificate of insurance from the renter/borrower naming you as a loss payee up to the full replacement value of the equipment they are renting or borrowing.

Proof of Insurance, how does it work?

Once you have purchased coverage, you can request a certificate insurance by clicking here.   You will be provided with a blank certificate that you can use to to issue certificates to the following parties that are asking to be added as loss payee and/or additional insured:

  1. Municipalities/Cities for the purpose of granting permits for photography operations.
  2. Lessors of premises Rented/Leased to the Insured for occupancy for photography  operations (except for long term leases).
  3. Equipment rental companies, but only with respect to the maintenance, operation or use of the equipment by the Named Insured.

 

Prior Claims

If you have had any claims or losses in the past three years, we will not be able to process your renewal online. Please contact our office to obtain an offline application that we will submit to the insurer for underwriting authorization. You must disclose all losses, whether or not those losses were indemnified by an insurance company. It is your responsibility to acknowledge these claims or losses. Failure to do so would be grounds for denying any coverage. If you purchase or renew online without disclosing your loss history, the Insurer will flat cancel your policy effective inception and you will be required to acknowledge this cancellation on all future insurance applications, which may increase your premium or deny you coverage.

If you are cancelled under this program as described, note that Front Row Insurance Brokers Inc. will not provide alternative terms for you.

Photographers Enhancement Pack explained.

Agency and Talent Re-Shoots Costs: $10,000  -  In the event of an insured loss, this coverage would cover additional costs incurred to pay talent required for a re-shoot or additional talent costs incurred by an advertising agency or advertiser.

Production Media/Media Peril: $10,000  - This coverage would provide additional costs incurred for a required re-shoot due to the direct physical loss, damage, or destruction of raw film or tape stock, exposed film (developed or undeveloped), including other forms of digital drives, image capture, processing and storage.  This also includes loss, damage or destruction to raw film or tape stock, exposed film (developed or undeveloped), recorded video tape, including other forms of digital drives, image capture, processing and storage caused by or resulting from  the use of faulty cameras, video tape recorders, faulty sound equipment, faulty developing and faulty editing equipment.

Seizure or Quarantine: $5,000  -  Covers loss incurred  due to the actual or potential impairment of an insured photo shoot caused by or resulting from the seizure or quarantine of property by order of government or military authority.

 Props/Sets/Wardrobe: $15,000  -  Provides coverage on props, sets, scenery, costumes, wardrobe and similar property against all risks of direct physical loss, damage, or destruction during a photo shoot.

 Impairment of Computer Services: $25,000  -  Electronic Data Recover costs or loss incurred due to the impairment of your shoot resulting from an actual loss to electronic data or a system due to malicious programing.

 

The above coverage would be subject to a $500 Deductible per insured loss, except for Theft from an Unattended Vehicle, which is subject to a $2,500 Deductible. Out of country claims (outside Canada/USA) are subject to a $750 deductible.

How can I make a change to my policy?

If you have already purchased a policy and you need to make a change, please contact one our offices. Currently you are not able to make changes to your policy online. We would be happy to assist you quickly with changes needed over the phone or by email.

Please note that once coverage is purchased, the full premium is fully earned and non refundable.

 

Equipment valuation, how will my equipment be valued if I have a claim?

Below is a breakdown of how Cameras and  Equipment are valued under the Front Row Photography program:

Replacement Cost -  this is the cost to replace the property/equipment with the same or other similar property of comparable material and quality used for the same purpose without deduction for depreciation.

If you have any questions regarding how your equipment  will be valued, please contact our office.

Equipment Schedule requirements.

We do not require a schedule of equipment to be on file to bind coverage under the program. It would be the insured's responsibility to maintain proof of ownership for your records. In the event of a claim, the claims adjuster would require the proof of ownership.

Some recommendations for keeping a schedule would be:

  • Keep a log of your items, including the model, model, serial number
  • and replacement value
  • Have photos of your items saved online including serial numbers
  • Keep copies of any receipts, boxes and manuals

Equipment Coverage Explained

All equipment is full replacement cost coverage for: theft, damage, breakage, fire and loss of use. This includes damage caused by Earthquake and Flood.

The coverage is included while in your studio/office/home for storage, while in transit to and from your shoots, and while being used away from your premises anywhere subject to the territorial limit you select (either Canada/USA only or Limited Worldwide *).

Note that there is no coverage for property while rented, leased or loaned to others.

This policy does not provide coverage for any wear and tear or deterioration of the camera. These items would not be considered insurable under any insurance policy.

Inherent vice and latent defects are also not insurable risks. As these are manufacturing faults, they would need to be covered under a product warranty, not an insurance policy. It is the manufacturer’s responsibility to ensure that all products are in working condition.

Theft from Unattended Vehicle: This Insurance does not apply to loss or damage caused by or resulting from theft from an unattended vehicle owned, operated or leased by you. However, this Theft from Unattended Vehicle exclusion does not apply to loss or damage caused by or resulting from hold-up, or when there is visible evidence of forcible entry to such vehicles. When a claim for Theft from an Unattended Vehicle is eligible for coverage, it would be subject to a $2500 deductible. 

Coverage Territory: The basic policy provides coverage within Canada and the United States of America only. For additional premium, coverage may be purchased on a Limited Worldwide basis – meaning the insurance applies anywhere in the world, except where the insurance carrier (Chubb Canada) is legally prohibited from providing insurance.  If you have purchased a Limited Worldwide policy, equipment coverage while outside of Canada/USA extends for a maximum of 90 days total during your annual policy term. Out of Country claims (outside Canada/USA) are subject to a $750 deductible.

You can reference this Canadian government website to find a list of current sanctions in place:   http://www.international.gc.ca/sanctions/countries-pays/index.aspx?lang=eng.  Coverage will not apply in any country that has an active sanction listed on this website. 

Cellular Phones:  Please note, cellular phones are not covered under this policy, either as equipment or office equipment, regardless of whether they are used as part of your photography practice. Coverage for your cellular phone may be available through other insurance or product warranties.

Effective Date of Coverage Explained.

If you choose to purchase your policy on the same day you want the policy to go into effect, the policy begins at the time your confirmation email is received with the policy documents.  

If you purchase a policy for a future date, the policy will begin at 12:01am on the date chosen.

Please note that the policy cannot be backdated.

Deductibles, what are they?

Equipment deductible: $350 per occurrence

Photographer’s Enhancement Pack deductible: $500 per occurrence

Theft from an Unattended Vehicle deductible: $2,500 per occurrence

Outside Canada and United States of America (“Out of Country”) deductible: $750

General Liability deductible: $500 per occurrence

The deductible applies to any one incident, not per item. Only one deductible, whichever is highest, would apply per claim.

A deductible is the amount of a covered loss that you are responsible for covering before the policy will respond.

Example: you drop your camera, but it only costs $200 to fix. Although it is the kind of damage that would be covered under the policy, you are responsible for the first $350 of the loss. In this case, the insurer would not have any responsibility to pay the claim, because the expense was not be more than $350. If it cost $500 to repair, you would be responsible for paying the first $350 of the repairs, and the insurer would cover the extra $150.

Coverage Enhancements explained.

Your policy automatically includes the following coverage, at no additional cost.

$10,000 Office Contents Coverage - Office furniture, fixtures, photocopiers, office supplies, desktop computers (excluding laptops), monitors, valuable papers, including tenant improvements done to the office space. This would be for a home office/studio or small rented office/studio space. Please contact us if higher limits are needed. 

$10,000 Office Contents - Additional Expenses - Covers additional expenses incurred due to a covered loss on office contents, such as the rental of temporary equipment.

$5,000 Laptops Coverage

$10,000 Newly Acquired Equipment (up to 30-days) - Automatic coverage for equipment that is newly purchased or acquired automatically, even if those items have not yet been added to the policy.

$7,500 Library Stock (Portfolio) - Covers costs to replace a portfolio due to theft or destruction.

$15,000 Money & Securities - Covers against loss by theft or destruction of money and securities inside your premises.

Commercial General Liability explained.

This coverage is designed to protect against claims of bodily injury or property damage to third parties caused by your operations as a photographer. It includes the cost of a lawyer to defend you.

The commercial general liability also includes coverage for tenant legal liability (coverage for your professionally used rented premises) equal to limits chosen, and Employers Liability (Canadian employees only) and Non-Owned Auto Liability (SPF No.6) up to a maximum of $1,000,000. The commercial general liability / tenant legal liability coverage would not apply to a personal residence or any activities other than as a photographer. The maximum payable for third-party property damage would be $2,000,000 or the limit chosen, whichever is lower.

This policy includes the following exclusions: Stunts, Pyrotechnics; Abuse Exclusion, Field of Entertainment Exclusion.

The above coverage would be subject to a $500 Deductible per insured loss, or a $750 deductible for Out of Country claims (outside Canada/USA).

Changes to my policy, how can I make them?

Once a policy is purchased, policy changes can be made HERE. These changes will be sent to our help desk and processed manually and will then be reflected on your renewal.

 

 

Certificates of Insurance explained.

Once you have purchased coverage, you can request a certificate insurance by clicking here.   You will be provided with a blank certificate that you can use to to issue certificates to the following parties that are asking to be added as loss payee and/or additional insured:

  1. Municipalities/Cities for the purpose of granting permits for photography operations.
  2. Lessors of premises Rented/Leased to the Insured for occupancy for photography  operations (except for long term leases).
  3. Equipment rental companies, but only with respect to the maintenance, operation or use of the equipment by the Named Insured.

 

Cellular phones, are they covered?

Please note, cellular phones are not covered under this policy, either as equipment or office equipment, regardless of whether they are used as part of your photography practice. Coverage for your cellular phone may be available through other insurance or product warranties

Automatic Enhancement Coverages explained.

Coverage Territory: Limited Worldwide –

  • Equipment: This insurance applies anywhere in the world, except where the insurance carrier (Chubb Canada) is legally prohibited from providing insurance.      
  • General Liability: coverage does not apply to claims outside of Canada and the United States of America (including its possessions and territories), unless a suit on the merits is brought in Canada or the United States of America

 

Earthquake & Flood -  included up the full Equipment limit purchased.

 

$10,000 Office Contents Coverage - Office furniture, fixtures, photocopiers, office supplies, including tenant improvements done to the office space. This would be for a home office/studio or small rented office/studio space. Please contact us if higher limits are needed.

 

$10,000 Office Contents - Additional Expenses - Covers additional expenses incurred due to a covered loss on office contents, such as the rental of temporary equipment.

 

$5,000 Laptops Coverage

 

$10,000 Newly Acquired Equipment (up to 30-days) - Automatic coverage for equipment that is newly purchased or acquired automatically, even if those items have not yet been added to the policy.

 

$7,500 Library Stock (Portfolio) - Covers costs to recreate a lost portfolio of existing materials from a duplicate source.

 

$15,000 Money & Securities - Covers against loss by theft, or destruction of money and securities inside your premises.

Are you located outside of Canada?

We cannot currently provide insurance through this system for individuals or companies outside of Canada.

For assistance in the USA, please contact our office in Los Angeles: 424  329  2480

doug@frontrowinsurance.com

Applicant (Named Insured), who should be listed?

Please note that the person who is listed as the applicant will become the Named Insured on the policy.

The Named Insured has special rights and duties. These rights and duties are explained in General Rules of the policy wording.

 

Individual - If you are applying as an individual, please list your full legal name in the Applicant’s name box.

Partnership or Joint Venture - If you are applying as a Partnership or Joint Venture please list you and partners or co-venturers full legal names.

Trade Name/Unincorporated Company  - If you are applying as a company that is not incorporated please list your full legal name and your unincorporated company name by including the acronym dba (doing business as).  An example of how to correctly list your name in this scenario is below:

Jane Doe dba ABC Production  Company

Corporation - If you are applying as a Corporation, please list the full legal name of your corporation including the company’s designation (i.e. Inc. Ltd, Corp.)

 

Please note that if you need to list vendors (i.e. Rental Houses) or locations as an additional insured or loss payee, they should not be listed as the applicant/Named Insured. When you purchase the policy, you will be supplied with a blank certificate of insurance. This certificate will allow you to add loss payees and additional insureds to your policy as needed per the terms and conditions of the policy.