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FILM AND TELEVISION PRODUCERS PACKAGE INSURANCE POLICY

ABOUT

Film making involves people, properties and processes and hence there are plenty of uncertainties. Delays could happen due to illness of actor; sets, props, films and equipment can be damaged due to occurrence of a natural calamity, riots, fire, etc. These can result in ‘extra expenditure’ being incurred beyond the budget besides causing loss or damage to several types of properties.

Film Insurance is an emerging concept enabling the producer to mitigate the risks involved in making of the films. Film and Television Producers Package Policy in the name of the producing Company and would include any Director, Officer or Employee. Policy is designed in such a way to cover all losses arising out of various contingencies unique to this industry. Essentially, it is a Package Policy. Policy can be customized to suit the emerging trend in the film industry.

FILM AND TELEVISION PRODUCERS PACKAGE INSURANCE POLICY

BENEFITS

SEVERAL TYPES OF CAST INSURANCE

  • Any member of the cast may become unavailable because of injury, illness, kidnaping or death, either of themselves, their relative or permanent partner.
  • If Principal Photography start in such cases, the Insured shall have the option to abandon the production and claim actual expenditures that are rendered valueless.

NEGATIVE FILM & VIDEOTAPE COVER

  • Raw film or tape stock, exposed film, positives and intermediate work products, artwork, software, computer images, etc., can be lost/damaged/destroyed.
  • Policy covers extra expenditure incurred in completing the insured production in such an event.

PROPS, SETS AND WARDROBE COVER

  • Props, costumes, and similar theatrical property made for the insured production that is owned by the Insured, or for which the Insured is liable can be lost, damaged or destroyed.
  • Indemnity will be at the full cost of repair or replacement without deduction for wear and tear and gradual deterioration.

MISCELLANEOUS EQUIPMENT COVER

  • Camera equipment, sound and lighting equipment, portable electrical equipment, mechanical effects equipment, etc., owned by the Insured, or for which the Insured is liable can be lost, damaged or destroyed during usage or intended use in the declared production.
  • Indemnity will be at the actual amount spent for repairs or replacement.

FILM / VIDEO TAPE IN STORAGE

Indemnifies the Insured the recopying cost of reproducing film/video tapes lost or damaged in storage from any external cause while they are stored at the specified locations.

THIRD PARTY PROPERTY DAMAGE

Indemnifies the Insured all sums insured shall become legally obligated to pay as damages because of loss, injury, or destruction of property of others while such it is in the care, custody, or control of the Insured and is used/to be used for the declared production.

EXTRA EXPENSE, MONEY AND CGL

  • Indemnifies the Insured any extra expenditure incurred in the event of the interruption, postponement or cancellation due to loss, damage, or destruction of property or facilities used/to be used for the production.
  • Policy indemnifies the Insured for loss of money by any cause not excluded and loss of or damage caused by theft or any attempt thereat to any of the specified safes or strong rooms containing the money. Money means not only cash but also other forms such as bank notes, cheques etc.
  • Policy indemnifies the Insured for all sums which the Insured shall become legally liable to pay as compensation in respect of bodily injury, property damage or denial of access which occurs during the Period of Insurance.

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