Shel Bachrach, a prominent insurance broker in Hollywood, passed away on Monday in Palm Springs at the age of 80, as announced by a publicist. Bachrach’s behind-the-scenes work was instrumental in the production of numerous films, including “Cliffhanger,” “The People vs. Larry Flynt,” and “Ali.”
Bachrach was known for providing financial protection and mitigating risks associated with various potential problems in the film industry. These included drug-related filming delays, such as those involving Courtney Love in “The People vs. Larry Flynt,” actors who pilot aircraft like Harrison Ford, and directors who could face issues due to age or medical conditions, such as David Lean and John Huston.
Bachrach’s expertise extended to risk management on stunt-filled films, where injuries to stars could halt production. He also wrote policies for magicians and “Big Cat” performers in Las Vegas, as well as for game shows like “The Price Is Right,” where contestants could win significant sums of money.
Born in Detroit on April 7, 1944, Sheldon Jay Bachrach wrote his first entertainment insurance policy in 1983. He quickly developed a reputation for “insuring the supposedly uninsurable.” In 1990, he wrote a life and disability policy valued at over $140 million, earning him a spot in the Guinness Book of World Records.
In addition to “Cliffhanger” (1993), “The People vs. Larry Flynt” (1996), and “Ali” (2001), Bachrach provided insurance services for other films such as “Medicine Man” (1992), “Color of Night” (1994), “Cutthroat Island” (1995), “Evita” (1996), and “The Shadow Conspiracy” (1997).
Bachrach held significant positions in the insurance industry. He was the president of the entertainment and high net worth divisions for USI Holdings, which was acquired by Goldman Sachs in 2007. He also served as president of Beverly Hills-based Albert G. Ruben Insurance Services before launching Bachrach & Associates in 1990. In 2014, Bachrach & Associates merged with the Insurance Office of America.
Bachrach’s family has a strong presence in philanthropic activities. They are represented on the board of governors at Cedars-Sinai Medical Center and have been members of the Amie Karen Cancer Fund for Children for over 20 years and the Assistance League for more than a decade.
Shel Bachrach is survived by his wife of 42 years, Cathy, his children Laura, Scott, Ryan, and Courtney, and his grandsons Benjamin, Asher, and James.
Bachrach’s contributions to the entertainment industry were vast and varied. He wrote his first insurance policy for a major entertainer in 1983 and went on to provide coverage for entertainers like Neil Simon, Van Halen, and Kiss. He pioneered practices that are now employed by companies worldwide, including policies for advertising commercial wrap-ups for Fortune 500 companies such as Coca-Cola, McDonald’s, Ford Motors, Philip Morris, and Toyota.
Bachrach also addressed drug-related filming delays for stars like Courtney Love, actors who pilot aircraft like Harrison Ford, aging key persons like director David Lean, and severe medical conditions for individuals like John Huston. He even provided coverage for pregnant actresses during filming, magicians, entertainers, “Big Cats” performers, and winnings for long-running game shows like “The Price Is Right.”
In addition to his professional achievements, Bachrach was a dedicated philanthropist. He served on the Board of ABCs at Saint John’s Health Center and was a major contributor to Cedars-Sinai, LACMA, and other well-known Los Angeles institutions. The Bachrach family has also been involved with UNICEF and the Circle of Angels.
Shel Bachrach’s legacy extends beyond his professional accomplishments. He was a devoted family man, married to Kathleen Wright Bachrach, with whom he had four children: Laura, Scott, Ryan, and Courtney. He resided in his Bel Air estate and had additional homes in Malibu, Palm Springs, and New York. His grandchildren, Benjamin and Asher, were also a significant part of his life.
Bachrach’s impact on the entertainment industry and his contributions to philanthropy will be remembered by many. His work behind the scenes helped bring numerous films to life, and his innovative insurance practices set new standards in the industry. Shel Bachrach’s legacy will continue to influence the world of entertainment and beyond.
Source: The Hollywood Reporter, Wikipedia
