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With both the NBA All-Star Game and the Academy Awards having taken place in February, BWD turns its spotlight to the broad range of sports, entertainment and special risks coverages that we provide for our distinguished clientele, both on an ongoing basis and for such special events as these. BWD serves as the insurance broker and risk manager for such prestigious major professional sports leagues as the National Basketball Association, the Womenis National Basketball Association, the National Hockey League and Major League Baseball. We also represent celebrities, models, entertainers and athletes as well as corporate executives and organizations involved in television, films and publishing. For these and other clients, BWD works behind the scenes to evaluate and limit exposures, and to provide the necessary coverages to protect against all types of risks and losses.
 We are often called upon to develop uncommon and unique policies for our celebrity clientele as well to provide specialty coverages and event insurance for various sports, entertainment and media organizations. From the entire scope of property coverages needed to insure sports facilities, arenas, equipment, motor vehicles, aircraft and other tangible assets in case of loss - to the full range of commercial liability coverages ñ to intricate high limit disability and life insurance policies - BWD has developed programs and policies to address the insurance needs of the sports and entertainment industries.
Did you know BWD and its ìall-starî cast of insurance experts play a role in Hollywood's annual Academy Awards festivities? BWD facilitates the insurance process for clients who borrow entire fleets of vehicles and hire dozens of drivers for the various events leading up to and following the internationally televised awards ceremony. We also help place insurance for clients who, for the Academy Awards and other high-visibility occasions, borrow or rent jewelry and clothing from designers and boutiques around the world. When jewelry, cars and other valuable items are borrowed for use in photo shoots or films, bailee coverage may be required to insure the specific items in case of damage or loss while in the custody of a production company, magazine or other insured individual or organization (other than the owner).
Coverage is also provided to protect entertainers, athletes and executives in case an individual is unable to fulfill his/her contractual obligations (and to protect the individuals and organizations who may rely on them as well). Insurance may be provided for the employers or sponsors of models, singers, actors and other performers in the event they cannot perform or fulfill the terms of their contracts. More commonly, for athletes with guaranteed contracts, there is almost always a disability policy and accidental death or life insurance policy in force to protect the player's team for the guaranteed salary that must be paid in the event of the player's disability or death. Prior to the signing of such guaranteed contracts, BWD's insurance experts have frequently accompanied General Managers and player agents to players' physical examinations, providing valuable assistance in the application and underwriting processes for life and disability insurance policies.
In the absence of a contract that protects future earnings or for participation in activities that carry unusual risks (such as driving racecars or piloting airplanes), an individual athlete or entertainer may elect to carry high limits of insurance for his/ her own benefit. In addition to assisting these clients in obtaining the appropriate types and levels of disability and life insurance coverages needed, BWD has also worked on behalf of it's insureds whose medical histories include certain high-risk conditions (such as previously injured body parts, surgically repaired pitching arms or repeated concussions) to help obtain coverages that might otherwise not be available.
 Along with the complete range of coverages and services for athletes and sports organizations throughout the regular season and during the offseason, all-star games, the Olympics and charity events, BWD also provides coverage for former all-stars participating in ìheroesî and ìlegendsî games, for rising stars in professional sports for whom our draft pick coverage protects potential earnings, for the performance bonus payable to a player who attains certain achievements, and for the $1,000,000 prize payable to the lucky fan who wins the half-court shot contest during an NBA game.
Similar to our clients in sports and entertainment, our media clients often require special insurance for personnel, as well as for certain business assets and liabilities unique to their industry. Journalists, international correspondents and others in the media may need unusual types and increased levels of protection while traveling on assignment in high-risk areas of the world. The insurance we place for these individuals is generally provided on a month-to-month basis, to include such coverage as Travel Accident, Accidental Medical Expense, Emergency Medical Evacuation, Repatriation and Kidnap & Ransom insurance (as highlighted in the Winter 2005 issue of BWD's Assurances), often considered a necessity for our high-profile clientele. Other specialized coverages that we provide for our media clients are Film, TV & Print Production Coverage for equipment, supplies and personnel (the definition of which may be broadened to encompass animal celebrities to be insured in case of escape or death during a film or TV project). Once a project is underway, it is often necessary to provide Film Completion Bonds to insure the completion of a work in progress. For completed works in storage, Film Archives Coverage may be required to protect against damage, to cover renovation expenses and to insure against the possibility of loss of revenue potential for irreplaceable films. Multimedia Liability Coverage is important to protect against media-related exposures such as libel, slander, invasion of privacy, copyright infringement, patent infringement and intellectual property abuses.
 While it may be safe to assume that most movie fans were not thinking about celebrity insurance while watching the Oscars, nor were sports fans thinking about their favorite player's coverage while watching the NBA All-Star Game, BWD's clients are always safe in assuming that the risk analysis and insurance placement that must be conducted for an event to be successful has been performed thoroughly and accurately. Even if a major event or series of events (such as a concert tour, the World Cup of Hockey or the NBA or MLB All-Star Game) does not take place due to circumstances beyond the control of the parties holding the event, coverage is available to protect against financial loss. Event Cancellation insurance may offer financial protection if such situations as natural disasters, terrorism, fires or severe adverse weather conditions necessitate cancellation of a covered event (or series of events), taking into account such factors as irrecoverable expenses, gross receipts, as well as the possibility and cost of rescheduling. For performers, the availability and cost of event cancellation coverage for non-appearance is based on their individual medical histories, as well as past experience. Transmission Interruption insurance offers another form of event coverage if a scheduled televised event is pre-empted for such reasons as reporting a matter of national concern or in observance of a national day of mourning. BWD may also arrange for coverage for specified weather conditions (including air temperature, wind speed, rain, snow, lightning and fog) that may disrupt such outdoor events as film or photo shoots (and weddings too!) or may limit walk-up ticket sales to other events such as exhibitions or competitions. This type of policy, for example, may be written to provide rain insurance for Major League Baseball teams. Coverage would be triggered when the rainfall measurement at the covered location reaches a specified fraction of an inch.
BWD's clients are assured full access to coverage that is customized to meet your individual needs - for nearly anything and everything you wish to insure. |
