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CoAction Targets Production and Event Businesses With New Program

New York Marine and General Insurance Company (NYMAGIC), part of CoAction Specialty, is looking to launch a new small business commercial insurance program in Texas targeting the production and event industries.

The program, which has a requested effective date of September 1, 2026, includes general liability coverage for short-term productions, production portfolios, annual production policies, photographers and videographers, recording and post-production studios, and events.

For production businesses, NYMAGIC will offer coverage ranging from productions lasting up to 60 days with budgets of up to $1 million to annual policies covering multiple productions. Production portfolios can cover a single production or series for up to 12 months.

The program also includes Tenant Users Liability Insurance Program (TULIP) coverage for activities and events at venues. Risks are divided into four classes, ranging from lower-risk events such as weddings, lectures and meetings to higher-risk events including concerts, carnivals and parades. Pricing varies by attendance and risk class, with options for liquor liability, vendors, exhibitors and concessionaires.

NYMAGIC is also addressing entertainment-specific exposures. Productions can pay additional premiums for risks including fight scenes, firearms and blanks, watercraft, aerial shoots, drones, explosions, animals and railroad scenes.

The insurer said the program is designed for the “unique needs of the small business production and event industry.” It noted that the rate and rule manual is substantially similar to a program previously approved in Texas for Zurich American Insurance Company, incorporating changes from subsequent Zurich filings.

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