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Apr 4

The Insurance and Accounting Conversation Every Film Producer Needs to Have

A Q&A with Stan Shkilnyi of Akker, LLC and Stefani of C2E Accounting & Tax • 2026

Most film producers spend months building their creative vision — and less than a week thinking about the financial infrastructure that protects it. The result is often a production that runs into preventable problems: insurance gaps discovered at the last minute, budgets that don't account for the real cost of coverage, tax opportunities missed because no one was brought in early enough, and claims that could have been handled smoothly but weren't.

We sat down with Stan Shkilnyi of Akker, LLC — a national film and production insurance specialist — and Stefani of C2E Accounting & Tax — a film industry accountant and tax strategist — to answer the questions every producer should be asking long before day one on set.

Q1: When should a film producer first bring in their insurance broker and their accountant — and is it ever too early?

🎬 Stan Shkilnyi — Akker, LLC | Film Insurance Specialist
When it comes to production insurance, you need to get started before pre-production begins — not during it. One of the most common issues we see is that filmmakers significantly underbudget for insurance. Insurance pricing changes every year, and what you paid last year may not reflect what coverage costs today. Carriers and underwriting programs are constantly evolving as well. I always recommend getting Akker involved early so your project is properly covered from the start and your budget reflects the real numbers.

📊 Stefani — C2E Accounting & Tax | Film Industry Accountant & Tax Strategist
I believe the film producer should bring in their accountant before they are even ready to form the business. Being able to secure the most beneficial tax structure for the film company is crucial. I have seen situations where a film producer waited until tax time, and we had to go back and change the tax status because it wasn't working in their favor — which can take months to reverse at both the federal and state level. Finding your accountant before business formation is one of the most important early steps you can take.

Q2: What are the most common insurance mistakes you see first-time film producers make?

🎬 Stan Shkilnyi — Akker, LLC | Film Insurance Specialist
The biggest mistake is assuming insurance will be cheaper than what they budgeted for. Film insurance pricing has been going through significant changes over the last one to three years, and many producers are working with outdated numbers. Carriers and underwriting programs are constantly shifting as well. Another common issue is assuming insurance can be secured at the last minute. That is no longer the reality for many productions. Depending on your budget, underwriting can take anywhere from five to ten business days. Producers also frequently don't understand what coverages are required by different locations and vendors. I always recommend getting us involved sooner rather than later — because if requirements need to be met after the fact, it is possible, but it can sometimes lead to additional cost.

Q3: What are the most common financial mistakes film producers make in their production budget — and how does working with an accountant early change the outcome?

📊 Stefani — C2E Accounting & Tax | Film Industry Accountant & Tax Strategist
Not budgeting enough for errors. Things can happen on set that we aren't always privy to seeing, so making sure there's a buffer built in somewhere when preparing the budget is essential. Having an accountant involved early means those contingency lines are built into the budget correctly from the beginning — rather than discovered when there's no room left to absorb them.

Q4: How does a production's budget size change what a producer needs from their insurance broker and their accountant?

🎬 Stan Shkilnyi — Akker, LLC | Film Insurance Specialist
We look at projects in two tiers. Depending on which tier your production falls into, the pricing, coverages, and carriers change significantly. For productions at $1 million and under, there are currently very few carrier options — in reality, only one carrier will typically provide a quote at that budget level. For productions at $3 million and above, there are far more carrier options available, but the process involves more paperwork and a longer underwriting timeline. Pricing can also vary considerably between carriers at the $3 million level, which is why it's important to go out to all available carriers for quotes — there can be a meaningful difference in what you pay.

📊 Stefani — C2E Accounting & Tax | Film Industry Accountant & Tax Strategist
The bigger the budget typically means more vendors and more payables to process. It also means making sure your accountant has the bandwidth and infrastructure to handle that increased workload. Scaling up your financial team and systems as your budget grows is something that should be planned for in advance, not discovered mid-production.

Q5: Walk us through what a complete film insurance package actually looks like — and what gets left out that producers don't realize they need.

🎬 Stan Shkilnyi — Akker, LLC | Film Insurance Specialist
A standard production insurance package that we quote every day typically includes General Liability, Equipment Rental coverage, Location Rental coverage, Auto Rental, Props, Sets and Wardrobe Rental, and Workers' Compensation. As productions grow in budget and complexity, the policy expands to include Cast coverage, Essential Elements coverage, an Umbrella policy, SAG/AFTRA Union travel coverage, and more. The coverage that filmmakers most consistently overlook — and leave out of their budget entirely — is Errors & Omissions (E&O) insurance. Most producers don't think about E&O until they've reached a sales agent or are in distribution conversations. At that point, they realize they need it and it wasn't in the budget. My advice is to request an E&O estimate from us early in the process so you can plan for that expense. It will come up the moment your project is ready for distribution.

Q6: What tax deductions and financial strategies are available specifically to film productions that most producers don't know about?

📊 Stefani — C2E Accounting & Tax | Film Industry Accountant & Tax Strategist
There are State Tax Credits that can be utilized in certain filming locations — these can be significant and are often underutilized simply because producers aren't aware of them or don't have someone in their corner who knows how to access them. There is also a tax structure that may work better for certain films depending on the number of owners involved. Always consult with a tax professional who has specific experience with film tax credits and the in and outs of how they work — because the details matter.

Q7: A production has a claim or a financial crisis mid-shoot. Walk us through what happens from your respective sides.

🎬 Stan Shkilnyi — Akker, LLC | Film Insurance Specialist
When a claim occurs, the most important thing I tell our clients is: contact us immediately. Do not wait until production wraps or weeks after the incident to file a claim. For theft or auto accidents — which filmmakers often want to set aside and deal with later — the most critical first step is notifying the police and obtaining a police report. That report is a key element in submitting a claim to the carrier. I tell every client to contact Akker within 24 hours of any incident so we can guide the process properly. Akker also provides a free risk management portal to our clients that makes that reporting process straightforward and accessible.

📊 Stefani — C2E Accounting & Tax | Film Industry Accountant & Tax Strategist
Apart from having your accountant on standby, this is where having the budget agreed upon and in place in advance really matters. The software system for payroll and vendor payments, along with the shoot timeline, should all be accessible to your accountant so that financial transactions can continue to be processed without disruption. When a crisis happens, knowing that your financial infrastructure is organized and your accountant can step in quickly makes a significant difference in recovery time. Pre-agreeing on what financial reports the producers want to see and on what schedule also ensures everyone stays aligned during a difficult period.

Q8: What should a producer have in place before they sign a location agreement, hire crew, or rent equipment?

🎬 Stan Shkilnyi — Akker, LLC | Film Insurance Specialist
Before you sign any location agreement or visit a rental house, you need a Certificate of Insurance in place. A Certificate of Insurance is essentially a snapshot of your policy — it shows your coverages, limits, and carrier information. Rental houses and location managers will require it before any agreement is finalized. In most cases, the vendor or location will also need to be named as an Additional Insured or Loss Payee on your policy. My advice to every filmmaker is to make sure coverage is in place before you go to the rental house or sign the location agreement — not after. You also want to confirm that your policy limits meet the specific requirements of the vendor or location you are working with, because requirements vary and gaps can create problems.

Q9: What financial records and structures should a production have in place before they start shooting?

📊 Stefani — C2E Accounting & Tax | Film Industry Accountant & Tax Strategist
Apart from having your accountant on standby, I would have the budget agreed upon and in place. The software system for processing payroll and vendor payments, along with the shoot timeline, should be available to the accountant so that all financial transactions can be processed on schedule. This prevents any hiccups as the production moves forward. Also decide in advance what financial reports the producers want to receive and at what frequency — having those expectations established early gets everyone on the same page before it matters.

Q10: If you could give one piece of advice to a first-time film producer about protecting their production financially — what would it be?

🎬 Stan Shkilnyi — Akker, LLC | Film Insurance Specialist
Get in contact with your insurance broker as early as possible. We are always happy to guide filmmakers from the very beginning and provide the best counsel we can. Our team has worked on sets, behind cameras, in production, and on the sales and distribution side of filmmaking — we understand the challenges you will face. We are always happy to offer free advice and guidance to producers at any stage of the process.

📊 Stefani — C2E Accounting & Tax | Film Industry Accountant & Tax Strategist
Get a good accountant who knows the film space, and make sure your insurance is in place before any major purchases or equipment rentals. You would be surprised how often pushing these two things off makes everything harder down the line. The earlier you bring in the right professionals, the more options you have.