Exclusive: Media Guarantors, the Fred Milstein-led completion bond firm that has helped launch dozens of domestic and international productions, is being sold by parent Cast & Crew to Boston-based SpottedRisk, a four-year-old insurer that specializes in niche entertainment products.
SpottedRisk CEO Janet Comenos says the lack of quality pandemic insurance is top of mind at the combined company, which now has an expanded toolkit to tackle it, although products will undoubtedly cost more than what the industry is used to. She plans to announce several new products in the coming weeks, including several that focus on the helping the independent film sector.
The deal merges the traditional and the new as the insurance business is upended by Covid-19 and searching for models to support entertainment production. A pandemic insurance bill is languishing in Congress. Its sponsor, Rep. Carolyn Maloney (D-ny), barely kept her seat in a contested primary that dragged on for over a month.
SpottedRisk CEO Janet Comenos says the lack of quality pandemic insurance is top of mind at the combined company, which now has an expanded toolkit to tackle it, although products will undoubtedly cost more than what the industry is used to. She plans to announce several new products in the coming weeks, including several that focus on the helping the independent film sector.
The deal merges the traditional and the new as the insurance business is upended by Covid-19 and searching for models to support entertainment production. A pandemic insurance bill is languishing in Congress. Its sponsor, Rep. Carolyn Maloney (D-ny), barely kept her seat in a contested primary that dragged on for over a month.
- 8/12/2020
- by Jill Goldsmith
- Deadline Film + TV
Exclusive: Media Guarantors Insurance Solutions, the completion bond company formed in April and led by principals and industry vets Fred Milstein and Scott Nicolaides, has appointed Erica Fishkin as Head of Legal and Business Affairs. She will report directly to Milstein, Media Guarantors’ President and Chief Executive Officer.
Fishkin joins Media Guarantors with more than 15 years of business and film and television finance expertise. Her experience includes representing a variety of entertainment industry clients, with focus on financial institutions, equity investors, borrowers, independent production companies and other industry professionals.
In recent months, Media Guarantors has expanded its staff adding industry veteran Bob Hackl to supervise all post-production and delivery on the company’s various bonded projects, and Aved Savoulian as an in-house production executive with expertise in production accounting and auditing. The company is also eyeing overseas expansion.
“We’re very excited to be adding Erica to our team,” says Milstein.
Fishkin joins Media Guarantors with more than 15 years of business and film and television finance expertise. Her experience includes representing a variety of entertainment industry clients, with focus on financial institutions, equity investors, borrowers, independent production companies and other industry professionals.
In recent months, Media Guarantors has expanded its staff adding industry veteran Bob Hackl to supervise all post-production and delivery on the company’s various bonded projects, and Aved Savoulian as an in-house production executive with expertise in production accounting and auditing. The company is also eyeing overseas expansion.
“We’re very excited to be adding Erica to our team,” says Milstein.
- 8/15/2018
- by Nancy Tartaglione
- Deadline Film + TV
Exclusive: Payroll, accounting and production management outfit Cast & Crew has launched Media Guarantors Insurance Solutions. Led by principals and industry vets Fred Milstein and Scott Nicolaides, the completion bond company will run as a separate entity and is looking to innovate amid a changing landscape.
Milstein is President and CEO of the new company. The exec has years of experience in the sector and calls Media Guarantors “a better kind of completion bond company focused on offering the highest level of singular service. We know every project is different and we will create tailored solutions to fit each of our client’s particular situations. Our combined expertise and experience, plus the financial strength of our insurer, means clients will be supported from start to finish.”
The company describes its role thusly: to confirm a project is achievable as conceived; cap financiers’ exposure; guaranty delivery to specifications; make distribution agreements bankable...
Milstein is President and CEO of the new company. The exec has years of experience in the sector and calls Media Guarantors “a better kind of completion bond company focused on offering the highest level of singular service. We know every project is different and we will create tailored solutions to fit each of our client’s particular situations. Our combined expertise and experience, plus the financial strength of our insurer, means clients will be supported from start to finish.”
The company describes its role thusly: to confirm a project is achievable as conceived; cap financiers’ exposure; guaranty delivery to specifications; make distribution agreements bankable...
- 4/9/2018
- by Nancy Tartaglione
- Deadline Film + TV
Film financing veteran Fred Milstein will take over as President, International of Harvest Seven Stars Media Private Equity (Hsspe) and CEO of Seven Stars Film Studios, the company announced on Monday. Milstein, based in Los Angeles, will oversee the company’s investment strategy and its joint ventures outside of China. He will report to Bruno Wu, the Chinese media mogul whose company launched Hsspe in February. “This appointment demonstrates our dedication to becoming a driving force in the global media and filmed entertainment industry,” Wu said in a statement. “Fred’s considerable experience, relationships...
- 5/7/2012
- by Lucas Shaw
- The Wrap
The enormous success on Broadway of "Book of Mormon" brings to mind the longest and most difficult mini-series development in the then-William Morris Agency's history. Feature agent and former New York colleague Fred Milstein called me one morning and spoke about a series of forgeries and murders by a 28-year-old elder of ths Mormon church against fellow Mormons. I could try to explain the convolutions of this story, but the most incisive and coherent analysis comes from a former Lds elder who calls himself "Stray Mutt." It is herein paraphrased. Mark Hofmann [pictured left] was a gifted and masterful forger. Like...
- 9/22/2011
- by Arthur Axelman
- The Wrap
Update: Insurer Aon/Albert G Ruben has got in touch, saying it has an insurance policy covering producers should the Czech incentive not pay out. Aon/Agr bonded two miniseries that shot in the Czech Republic, Dune and Children of Dune, which played on Syfy. “With the insurance, the government incentive should become bankable,” Aon/Agr managing director Fred Milstein tells me. Previous: The country will start offering its 20% production grant on July 7. The government has earmarked CZK400 million ($19 million) for finance the incentive on a first-come, first-served basis. Although tagged as an incentive for everybody, the Czech grant has [...]...
- 6/25/2010
- by TIM ADLER
- Deadline London
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