DICE insurance is a specialized insurance policy designed to protect film production companies working on documentaries, industrial, commercial, and educational films. Known as a “DICE policy,” this insurance covers the unique risks that can arise in these types of productions.
Unlike traditional policies, DICE insurance accounts for the specific needs of non-feature productions, ensuring that costly equipment like cameras, sound gear, lighting, and even wardrobes are covered. A DICE insurance policy acts as a financial buffer, helping production companies avoid significant financial loss in case of theft, damage, or unexpected events that may disrupt filming.
What Does “DICE” Stands For In Insurance?
In the context of insurance, the acronym “DICE” stands for “Documentary, Industrial, Commercial, and Educational.” DICE insurance policies are crafted to cover a wide array of productions that fall outside feature films and TV shows. Therefore, whether the project is a corporate training video, an educational film, or a commercial, a DICE insurance policy provides relevant coverage options to address these productions’ specific needs and potential liabilities.
What Is Covered Under A DICE Insurance Policy?
DICE insurance policies are highly customizable to cover various risks associated with film, media, and production work. Here’s what a DICE policy often covers:
- Third Party-Property Damage
- Rented Equipment Damage
- Wardrobe Damage
- Props & Set Damage
- Recording Media Damage
- General Liability
- Errors and Omissions Insurance
Third Party-Property Damage
DICE insurance typically includes liability coverage for accidental damage to third-party property, protecting the production company against claims if filming activities unintentionally harm someone else’s property.
Rented Equipment Damage
A DICE insurance policy usually covers damage or theft of rented equipment essential to production, such as cameras, lights, sound equipment, and technical gear. This protects the team from financial losses if these costly assets are damaged during the shoot.
Wardrobe Damage
Many DICE policies cover wardrobe damage, but coverage terms can vary. Production companies should confirm the limits and conditions of this coverage with the insurer, especially for high-value wardrobe items.
Props & Set Damage
DICE insurance generally covers props, sets, and scenery used during filming. This coverage protects against accidental loss or damage, providing peace of mind when it comes to intricate set pieces and valuable props.
Recording Media Damage
Coverage for recording media, such as film or digital footage, is often available. This protection, however, may need to be added as an endorsement to ensure coverage for accidental damage or loss.
General Liability
General liability coverage is a key part of a DICE insurance policy. It includes protection against bodily injury, property damage, and legal expenses in the event that third-party claims arise due to production activities.
Errors and Omissions Insurance
As an optional add-on, Errors and Omissions (E&O) insurance provides legal and financial protection if the production faces claims related to copyright, trademark, or defamation issues.
DICE insurance policies are highly customizable, allowing production teams to add or adjust coverage based on the specific needs of the project.
What Are The Common Exclusions Of DICE Insurance?
While DICE insurance policies offer extensive customization options, they often include some exclusions. Here are common exclusions typically found in DICE insurance policies:
- Owned or Leased Vehicle Damage
- High-Risk Stunts and Unique Shoots
- Intellectual Property Violations
- Misconduct or Fraud
- Wear and Tear or Gradual Deterioration
- Breach of Contract
- Employee Injuries
Owned or Leased Vehicle Damage
DICE insurance typically does not cover physical damage to vehicles owned or leased by the production company, which requires separate auto insurance.
High-Risk Stunts and Unique Shoots
Many DICE insurance policies exclude or limit coverage for high-risk stunts, pyrotechnics, underwater shoots, and hazardous locations. These activities may only be insured if an additional rider is pursued.
Intellectual Property Violations
Standard DICE policies exclude coverage for copyright infringement, defamation, and similar intellectual property issues. Errors and Omissions (E&O) insurance is typically needed to protect against these risks.
Misconduct or Fraud
Claims arising from intentional acts, fraud, or willful misconduct by production staff or employees are not covered under DICE insurance policies.
Wear and Tear or Gradual Deterioration
Here’s the background information to utilize for generating the content:
Losses due to general wear and tear, deterioration, rust, or corrosion are typically excluded, as they are not considered accidental.
Breach of Contract
Claims related to contract disputes or breach of contract are usually not covered, requiring legal remedies outside the DICE insurance framework.
Employee Injuries
DICE insurance does not cover injuries sustained by employees during production. For such cases, workers’ compensation insurance is required.
These are some of the common exclusions but they can vary by policy and provider, so it’s essential to review the terms or add endorsements if needed for additional coverage.
The Wrap Up
In summary, DICE insurance is a valuable tool for film production companies that handle documentary, industrial, commercial, and educational projects. A DICE insurance policy provides coverage for various production-related risks, helping teams focus on creative work without worrying about unexpected financial setbacks.
Although DICE policies offer broad protection, it’s important for production companies to understand the exclusions and consider additional coverage options where necessary. By choosing the right DICE insurance policy, production companies can secure peace of mind and ensure their projects are well-protected.
