2010Legal / Business Practices forum
Warner Bros. insurance policy for Steadicam equipment replacement coverage
16 years old. Gear and prices may have changed since.
DisputedParticipants disagreed and reached no conclusion. Read the findings as positions, not as an answer.
What the thread found
- Warner Bros. initially moved toward paying actual cash value instead of full replacement value for Steadicam equipment damage or loss.
- Actual cash value is determined by current market worth and depreciation, resulting in lower payouts than full replacement value.
- Accepting actual cash value settlements sets a precedent that makes it more difficult for other professionals to negotiate full replacement value terms.
- Full replacement value can be obtained through negotiation with Warner legal department rather than accepting their initial offer.
- Equipment professionals should verify current policy terms with their UPM rather than assuming standard coverage.
Depends on
- The exact scope and circumstances of this policy change remain unclear from the discussion.
- It is uncertain whether this policy change applied universally across all productions or only specific situations.
- The discussion does not specify which Steadicam equipment types or values were affected.
- No resolution was reached confirming whether the policy change was permanent or temporary.