Practice/Industry Group Overview
Morris Polich & Purdy has extensive experience handling business transactions and litigation in the entertainment industry including music, sports, art, motion picture and television.
We are also experts in a class of insurance in this area known as “contingency,” which is comprised of a number of insurance risks that fall outside of the more easily recognized property, marine, casualty and financial service products of most companies. The firm handles insurance matters dealing with non-appearance, cancellation coverage, transmission failure, prize indemnity, contract bonus, weather, moral turpitude, redemption and many other esoteric matters. Our specialists in this field have handled insurance issues pertaining to major concert cancellations and sport events worldwide. Often, our expertise has had a profound effect on protecting the interests (and balance sheets) of all parties involved. The firm has crafted a creative, commercially feasible approach in this area.
Our expertise in this field has extended to a range of areas, including, but not limited to:Agreements – talent, venue, equipment and sponsor
- Event cancellation
- Film Financing
- Joint Ventures
- Purchase and sale
- Promotion of events and concerts
- Theme parks
- Travel delays
- Terrorist attack and threat
- Film and television losses
A CROSS SECTION OF OUR EXPERIENCE
- Represented a group of insurers who issued a non-appearance policy regarding a series of concert performances cancelled as the result of the unexpected death of the artist.
- Advised insurers regarding a concert cancelled as a result of a major hurricane, which required extensive negotiations concerning event rescheduling and apportionment of expenses and profits.
- Litigated on behalf of an insurer regarding the threatened shutdown of the release of a film because of major First Amendment issues, which resulted in litigation on issues of first impression. Innovative litigation strategy allowed for the timely release of the film.
- Negotiated a successful compromise on the rescheduling of a trade convention initially postponed because of major post 9/11 security concerns.