INSURANCE
Locking It Down… How did your business react the day the lights went out? By Mi chae l J . Pa l l e r i no
T he call was a tough one. When the realization hit that there was not going to be any more live events for the foreseeable future, Jeff Darling could only listen when a long-time client told him that the company it built up over the past 20 years was going to take a titanic-sized hit. Thirty million dollars in revenue gone. If you are the kind of person who believes every story is equal parts good and bad, here is the good. Back in 2000, Darling,
In many cases, we’re helping [our live event customers] reinvent themselves to include virtual presentations, drive-in events, and studio rentals.
production companies, post-production, equipment rental houses, and live event production companies. Darling started in the entertainment
Creating balance between creative and business forces is an artform. And if there is any pretense that the entertainment world has fully embraced the need for insurance, think again. “We’re willing to listen to what each of our customers need, instead of pretending as if we know the ending before we hear the story,” Darling says. “The real opportunity is learning, constantly learning, and always pushing to do what we do better.” That is especially true today, where the aftermath of the pandemic will resonate for some time, resulting in things like increased scrutiny around employee safety and disease spread prevention. And while the challenges of filming in a socially distanced landscape are clearly apparent, it will be important to find the formula, balance, concessions, and patience. “Safety is king,” Darling says. “People are going to be rightly concerned about their health. Working together may never be the same. If this has taught us anything, it is the rapidity with which things can change. Have a plan now for what your enterprise looks like when this happens again. Sadly, I believe it could.”
Jeff Darling
co-founder of the Cooley & Darling Insurance Agency, sat down with the same client to express the importance of acquiring insurance to protect itself a year in advance of an event. Interestingly enough, last year the agency bound communicable disease coverage into the client’s coverage for 2020. Why? Who knows what the future holds? But the result: “They have been 100% covered for their losses,” Darling says. In a time when the entertainment industry has been turned upside down, knowing you have someone watching out for you is critical. The key, Darling says, is not to play the role of vendor, but instead a trusted advisor. That means more than just being an insurance broker, it means helping mitigate risk. “We’ve worked closely with our live event custom- ers, many of whom have been hit particularly hard,” Darling says. “In many cases, we’re helping them rein- vent themselves to include virtual presentations, drive-in events, and studio rentals. One company even decided to become a trucking company, so they had to completely retool their processes.” Founded in 2008 by Darling and Andy Cooley, the firm specializes in entertainment insurance; specifically, risk transfer and risk management for film and television
insurance industry in Universal City in 1993, learning the ins and outs from some of the pioneers of the business. The first film he underwrote just happened to be one of the most innovative at the time, Toy Story . “The film required insurance carriers to see production in a whole new light,” Darling recalls. “I was able to tour Pixar’s production studios in Richmond, California, to formulate details for a totally new context for underwriters. It was an amazing foray into a world of risk I would come to love.” In a business where risk is present at every turn, helping calm the anxieties of the players involved does not come without its own set of risks and anxieties. To fight the fight, Darling must place himself on his customer’s team to become intimately familiar with the process. “I’ve always relished the opportunity to take what I do, bring it outside of a commoditized, vendor-based relationship, and turn it into a true partnership. It can be difficult at times. There are only so many carriers willing to insure filmmakers and even fewer that do it well.” The partnership, when it works for everyone, helps reduce the fear that comes with the investment in the filmmaking process. When you reach common ground, you build partnerships that last. The bottom line, as Darling says, is pretty clear. “If my customers are working, I am, too.”
Jeff Darling, CIC, CRM Cooley & Darling Insurance Agency, Inc. Phone: (703) 881-0113 | Cell: (703) 581-7313 | Fax: (703) 659-0025s www.cd-insure.com.
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