Film and television insurance is a type of errors and omissions policy designed specifically for media clients protecting risk liability claims brought by third parties. This type of policy is typically purchased by publishers, broadcasters, ad agencies, authors, and other companies that create and distribute media content across multiple platforms.
Furthermore, film and television insurance protects against defamation, invasion of privacy, copyright infringement, plagiarism, intentional torts, and other liabilities. A film and television insurance policy protect from claim types that are unique to media professionals such as an online blogger, advertising company, news publisher, digital marketing company, or social media influencer. Therefore, to protect the policyholder from undefined future losses, demand for film and television insurance is expected to boost market growth in the near future.
The global film and television producers package insurance market is segmented on the basis of type, end user, and region. Based on type, the market is divided into copyright infringement, plagiarism, privacy, intentional torts, and other liabilities. On the basis of end user, the market is categorized into publishers, broadcasters, ad agencies, authors, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Top Impacting Factors
The rise in the number of social media content is driving the film and television producers package insurance market growth. However, high insurance premiums and interference with insurance regulations are expected to limit market growth. Contrarily, the rise in the adoption of advanced technologies in the liability insurance industry can be seen as an opportunity for the market.
The Rise in the Number of Social Media Contents
There has been an increase in the usage of social media platforms to influence the target audience, media platforms such as publishers, broadcasters, ad agencies, authors, and other companies that create and distribute media content across multiple platforms. In addition, the rise in fraud and misusing the audience by social media platforms resulted in a rise in the demand for film and television liability insurance.
Moreover, film and television insurance covers a wider range of events such as privacy, copyright infringement, plagiarism, and intentional torts. Therefore, to protect against future financial losses and protecting the business from unexpected losses. Thus, these factors are propelling the film and television producers package insurance market growth.
Rise in Advancements in Technologies
Advancements in technologies such as artificial intelligence (AI), and application program interface (API) have a significant impact on the film and television insurance market. With technological developments in film and television insurance, it is expected to optimize the productivity of the claim and settlement process and the use of technology for a better service experience to attract the consumer more seamlessly at the point of purchase.
Moreover, real-time tracking systems and automation in the claim process enable the film and television industry to create highly personalized user experiences with their customers. In addition, technologies help in data collection, and in identifying customers' specific needs for better delivery of services. Therefore, seamless services available with advanced usage of technology are expected to provide lucrative opportunities for film and television liability insurers in the market.
Key Benefits of the Report
- This study presents an analytical depiction of the film and television producers package insurance market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the film and television producers package insurance market share.
- The current market is quantitatively analyzed to highlight the film and television producer package insurance market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed film and television producers package insurance market analysis depending on the present and future competitive intensity of the market.
COVID-19 Scenario Analysis
- The rise in COVID-19 cases around the world is causing an economic slowdown across several countries. The pandemic has had a significant impact on developed countries. Globally, the majority of manufacturing and production of goods has been postponed. Businesses in most countries have suffered as a result of partial or total lockdown. This, in turn, is expected to have a favorable effect on the film and television insurance market in the coming years.
- Moreover, businesses are more focused on using digital platforms for influencing target customers, as a result, advertisements and other sources of media transfer wrong information. Therefore, film and television insurance protects the policyholder from all legal expenses liability enforced on the policyholder. Thus, the COVID-19 harmed the film and television producers’ package insurance market.
Questions Answered in the Film and Television Producers Package Insurance Market Research Report
- Which are the leading players active in the film and television producers package insurance market?
- What would be the detailed impact of COVID-19 on the film and television producers package insurance market size?
- How the current film and television producers package insurance market trends that would influence the industry in the next few years?
- What are the driving factors, restraints, and opportunities in the film and television producers package insurance market?
- What are the projections for the future that would help in taking further strategic steps?
Film and Television Producers Package Insurance Market Report Highlights
By End User
Key Market Players
Fuller Insurance Agency, Allianz, DGFASLI, Chubb, The J. Morey Company Inc., Mitchell & Mitchell Insurance, iCAT, Zurich, NHC Insurance Services, ASSURANT, PURVES & ASSOCIATES INSURANCE AGENCY