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Warner Bros., change in policy


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#1 Jens Piotrowski SOC

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Posted 04 September 2010 - 03:29 PM

FYI: Warner Bros. stopped issuing certificates of insurance for the "replacement" value of Steadicam equipment. They will however pay the cash value, whatever that means......

JP
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#2 Grayson Austin

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Posted 14 September 2010 - 12:49 AM

FYI: Warner Bros. stopped issuing certificates of insurance for the "replacement" value of Steadicam equipment. They will however pay the cash value, whatever that means......

JP


Not True. They will pay "full replacement value" if you push them. Never take actual cash value. "Actual Cash Value" means whatever the piece of gear is worth right now on the open market due to depreciation. If you accept that, it just makes it harder for the rest of us to get our deal memos done properly and you will not be able to get your gear properly replaced if something should happen to it. I had the Warner legal department change that phrase back to "Full Replacement Value".

Grayson Grant Austin, SOC
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#3 Jens Piotrowski SOC

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Posted 14 September 2010 - 09:03 AM

FYI: Warner Bros. stopped issuing certificates of insurance for the "replacement" value of Steadicam equipment. They will however pay the cash value, whatever that means......

JP


Not True. They will pay "full replacement value" if you push them. Never take actual cash value. "Actual Cash Value" means whatever the piece of gear is worth right now on the open market due to depreciation. If you accept that, it just makes it harder for the rest of us to get our deal memos done properly and you will not be able to get your gear properly replaced if something should happen to it. I had the Warner legal department change that phrase back to "Full Replacement Value".

Grayson Grant Austin, SOC

FYI:

I think you misread my post, I got the "replacement value" clause, but they told me they changed the policy from now on.....so be aware, ask your UPM, don't presume....


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