Chubb has enhanced its policy wording for companies in the UK and Ireland that produce television commercials and other advertisements.
The major insurer said that the enhanced wording is designed to meet the needs of commercial producers working to industry-standard Advertising Producer Association contracts.
The new wording includes various significant updates, such as cover for emerging camera technology, automatic cover for antiques and objects of art; animal mortality and visitors’ personal property.
Other policy features and benefits include comprehensive cover through the production cycle, business interruption risks, property risks, public liability risks and flexibility policy limits.
Chubb improved the insurance as the creative industry sector continues to grow while risks evolve.
In 2015, the total UK advertising market grew to about £20 billion while TV advertising spent exceeded £5 billion for the first time, according to Frankie Hernandez, UK and Ireland entertainment manager for Chubb.
Hernandez said the advertising market is an “increasingly high-tech and high-risk industry.”
“With the future outlook less certain, commercial producers need an insurance provider that genuinely understands their business and the evolving risks they face,” Hernandez said.
Related stories:
Chubb steps up cover for technology companies
Chubb improves casualty policy wording to cover emerging risks
