E & O insurance is insurance that will be required for the film separate from the standard insurance for accidents, shooting days, etc. The purpose of this insurance is to assure your investors that they will be protected in case the production is sued for slander or improper use of a copyright.
Some examples of what Errors and Omissions concerns can be found in "Too Many Locations", "Specific Music" and "Uniforms, official Vehicles".
Basically you have to keep in mind that if you use a brand name, feature a still (or moving) photograph, a celebrity's name or likeness, or virtually anything in your script that you have not invented specifically for the film, the producer will be required by the insurance company to get written permission from the company or individual to use it. On the other hand, the insurer may judge that such use will not infringe on any copyright, etc., and therefore permission would not be necessary.
If for example you write a scene that has "Nancy" reading a National Geographic magazine, the producer will need the written permission from National Geographic, and might also need written permission from the photographer. The permission could take weeks or even months. For whatever reason, they may not grant permission, and if they don't, but it is vital that "Nancy" be reading a magazine about geography, then the art department will have to mock up a magazine cover, which will take more time and money.
Some examples of what Errors and Omissions concerns can be found in "Too Many Locations", "Specific Music" and "Uniforms, official Vehicles".
Basically you have to keep in mind that if you use a brand name, feature a still (or moving) photograph, a celebrity's name or likeness, or virtually anything in your script that you have not invented specifically for the film, the producer will be required by the insurance company to get written permission from the company or individual to use it. On the other hand, the insurer may judge that such use will not infringe on any copyright, etc., and therefore permission would not be necessary.
If for example you write a scene that has "Nancy" reading a National Geographic magazine, the producer will need the written permission from National Geographic, and might also need written permission from the photographer. The permission could take weeks or even months. For whatever reason, they may not grant permission, and if they don't, but it is vital that "Nancy" be reading a magazine about geography, then the art department will have to mock up a magazine cover, which will take more time and money.
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