Overview

This standard is about assessing and making insurance claims against cover that has been arranged for the production.  Losses to the project could have serious cost implications to it and you are required to either eliminate that cost or reduce it, where possible, to acceptable levels. Losses could relate to cast, contributors and crew becoming ill and unable to work, theft or breakdown of equipment or facilities and locations being unavailable. This will involve assessing the extent of liability that can be claimed against, and identifying all of the cost or logistical implications of losses.  You will also prepare estimates of costs associated with insurance claims and be involved with negotiating settlements with insurers for claims against insurance cover.

This standard is for Production Accountants.

 

Performance criteria

You must be able to:

  1. identify and validate information and evidence to support insurance claims from internal and external sources
  2. assess the impact of losses that occur on the production
  3. evaluate the financial implications of any losses to the production’s budget
  4. establish the basis of potential for claims against specific insurances to cover losses affecting the production
  5. Iidentify any liabilities that the production is unable to offset through claims against insurance cover
  6. complete insurance claim forms and present to the relevant organisation within required timescales
  7. prepare and present cost and other information to support claims against identified cover
  8. establish the parameters of your authority to negotiate with the relevant organisation for claims made against identified cover
  9. determine your objectives in relation to claims made to insurers
  10. respond to offers of settlement by insurers in a manner that optimises the return that the project secures for claims
  11. discuss settlement offers with relevant people before responding to insurers where this is necessary
  12. refer unresolved claims to relevant people where you are unable to secure settlement within accepted parameters
  13. adjust production accounts and budgets in response to monies received as the result of insurance claims

 

Knowledge Criteria

You need to know and understand:

  1. who to work with to complete the claim
  2. the losses that have impacted on the production’s budget
  3. how the production schedule is affected by identified losses
  4. the different phases of production that can be affected including, pre-production, production and post-production
  5. the cover that the production has and the key clauses that are affected by any claims
  6. the insurers and their representatives
  7. who to seek authority from in negotiation of insurance claims
  8. who to refer unresolved claims to in order to pursue settlement where it cannot be agreed with the insurer or their representative
  9. when to seek advice from relevant specialists such as internal legal specialists or solicitors
  10. how to identify these ‘insurance costs’ separately from ‘costs’