Several skit makers shooting video on site have been exposed to risks that have made them suffer loses with no insurance solution to fall back on to reinstate them to the previous state they were before the loss happened.
Their loss incidents of total loss captured in the social media while making content on site involved loss of cameras, cash and other equipment. However, despite the apparent lack of cover for such risks because the content makers lack of insurance awareness and the role insurance could play to protect their creative arts, insurance expert, U. Ofurum says there are smart insurance solutions that could play a vital role in protecting them against various risks.
He listed some potential risks they could face to include business interruption due to unforeseen events like equipment breakdown, fire, or theft. Others could be theft or loss of essential materials and damage to equipment. There are liability risks too, in the form of accidental injury to customers or employees while in the premise and also, product liability that would cover damage or injury caused by defective or faulty skits.
Ofurum stated that potential solutions could be covers for BI insurance which provides financial support to help skit makers recover from unexpected events; stock insurance when purchased would cover the value of materials, including fabrics and threads against thefts, loss, or damage/ If equipment insurance is in place, it would protect against accidental damage to equipment, ensuring that they continue operating. Other insurance solutions he scrolled involved public liability and product liability insurance covers to take care in the case of the former, accidental injury to customers or employees, helping to mitigate potential lawsuits. For the later, it comes to the rescue against claims arising from defective or faulty skits for loss Here are some potential insurance solutions:
Ofurum also emphasised that customized insurance products could be created to effectively address their unique needs, and insurance companies could develop customized products, such as a bundled policy that includes a combination of the above-mentioned covers.
Another fitted solution he noted could be microinsurance products, affordable, bite-sized insurance products that cater to their specific needs.
With these insurance solutions, he said the incidents of skirt makers exposed unforeseen situations could be better managed, ensuring the sustainability and growth of their businesses.
