Nest Productions provides a new insurance scheme for their indie partners

Nest Productions has sealed a partnership with expert film and TV insurance firm Media Insurance Brokers (MiB) to provide Nest’s partner indies a new scheme with highly competitive insurance rates, enhanced coverage and production risk management and support. This new initiative will provide a high and consistent level of coverage across all of Nest’s and their indie partners’ productions, giving stakeholders peace of mind that their productions are insured correctly.

BENEFITS
Nest partners will receive benefits such as a pre-agreed insurance rate regardless of budget size resulting in no minimum premium threshold and production risk management and support from the early stages of pre-production right through to final delivery. As part of the scheme, stakeholders will also get out of hours contact, a simplified insurance process, and can add on access to EAP for their staff and crew, an Employee Assistance Programme for Wellbeing.

The new scheme allows small to mid-sized independent production companies to benefit from preferential insurance rates that up until now have predominantly been reserved for owned indies that merge with networks, groups and super indies. The rates will match those that companies which are part of a group get, which normally independent producers don’t receive – meaning more money can be reserved for development and production.

GOALS
The aim of the scheme is to give insurance support, clarity and protection to producers of any size and at any stage of their lifecycle, with bespoke packages available that cover productions from development to production to sales.

Stew Batt and Derek Drennan, co-founders and joint MDs of Nest Productions say, “Indies can all benefit from higher levels of tailoring of and consultancy on insurance as their security is so important. It is also a tricky process that requires protection of everything from production, staff, sales and IP – often the most important parts to secure are things that aren’t set in stone and have unpredictable elements. Our partnership with MiB for this new first-of-its-kind scheme allows everyone to have the same level of consultancy and protection at the rates you’d usually only get as part of a major network or group. We’re looking forward to being able to offer this integral part of production to our partners.”

Dan Woods, Insurance Broker, MiB Insurance, says, “This partnership with Nest allows us to offer the highest quality of insurance support to indie producers of any size and at any stage in their lifecycle in the manner they would receive from being part of a super indie or major network. The aim is to democratise access to insurance, and start conversations with producers that may not even be thinking about insurance yet or don’t know what to think about in terms of insurance. Together we will demystify that process and spend more time on what they are good at.”