What're your thoughts on Adult Entertainment Industry insurance?

[Tysinn1234]

What're your thoughts on Adult Entertainment Industry insurance? I hear the Adult Entertainment industry is worth anywhere from $20-$97 Billion. Considering it's world's oldest occupation, it seems like it'd be a good niche for P&C/Work Comp, but I don't even know where to begin. Obviously adult product stores would have basic inventory/building coverage and GL, but what about gentlemen's clubs, online sites, hiring agencies, production companies?

It seems to me that some of these would have some basic lines of coverage like this:
Gentleman's Clubs: Liquor Liability, Property Coverage, GL, Professional Liability (emphasis on sexual harassment), EPLI coverage, Work Comp
Online Site: Emphasis on Cyber Coverage and Business Interruption
Hiring Agencies: Property Coverage, GL, Professional Liability (emphasis on sexual harassment), EPLI coverage, Work Comp
Production Companies: ????????

What am I missing? Does this sound crazy? Where would someone start?

 

[fed up]

Introduce yourself and ask for the manager. You may find that the club "rents" space for the dancers so that they are independent contractors but any club has some employees. You may also find that many carriers do not have anything for the business based on liquor vs food sales. Of course telling your spouse that it is all business when you visit every club in your area sounds like a great excuse for coming home late

 

[EugeneM]

I have written the comp on the MFG side of it lol... that was a hell of a shock first time I went to their website... was treated like any other manufacturing risk. I am sure clubs, production etc would be treated way differently. Seems like a lot of work/huge distraction for small premiums.

 

[goillini52]

What're your thoughts on Adult Entertainment Industry insurance? I hear the Adult Entertainment industry is worth anywhere from $20-$97 Billion. Considering it's world's oldest occupation, it seems like it'd be a good niche for P&C/Work Comp, but I don't even know where to begin. Obviously adult product stores would have basic inventory/building coverage and GL, but what about gentlemen's clubs, online sites, hiring agencies, production companies?

It seems to me that some of these would have some basic lines of coverage like this:
Gentleman's Clubs: Liquor Liability, Property Coverage, GL, Professional Liability (emphasis on sexual harassment), EPLI coverage, Work Comp
Online Site: Emphasis on Cyber Coverage and Business Interruption
Hiring Agencies: Property Coverage, GL, Professional Liability (emphasis on sexual harassment), EPLI coverage, Work Comp
Production Companies: ????????

What am I missing? Does this sound crazy? Where would someone start?

Just make sure they pass the smell test.

 

[marindependent]

I bet EPLI is impossible.

 

[marindependent]

I would start with a great MGA. One that has a good set of non admitted carriers.

 

[Markthebroker]

I've been in B2B sales for almost 20 years. Roughly half in advertising, and the other half in insurance sales. From the standpoint of retention, e&o, servicing, auditing issues, and late payments, I would anticipate this as being a poor industry to focus on. As I write this response, I come up with more and more reasons why this would be a problem industry with issues generally not seen in other industries.

Among many other issues, this will be one of the first industries in a recession where you will be seeing businesses go under, with cancellations and non payments, and you'd have to rebuild much of your book.

Furthermore, underwriters and csrs are often female, and you will ask them to service and underwrite accounts that often objectify females, adding one more layer difficulty to the scenario.

With all that said, it is entirely possible you could focus on this industry and make a lot of money. However, I can make some very strong arguments for other industries were you can make more money with less work and headache, and e&o risk.

 

[Allen Trent]

I've been in B2B sales for almost 20 years

considering this thread is about adult entertainment & adult toys, can you clarify B2B? that sounds like a toy or activity I wont enjoy, but considering you have been doing it for 20 years, I thought maybe I was missing something

 

[Markthebroker]

considering this thread is about adult entertainment & adult toys, can you clarify B2B? that sounds like a toy or activity I wont enjoy, but considering you have been doing it for 20 years, I thought maybe I was missing something

Yes, my friend. You are missing something. B2B stands for business-to-business.

 

[Allen Trent]

Yes, my friend. You are missing something. B2B stands for business-to-business.

OK, that is what I thought, but I was asking for a friend who was too embarrassed to ask