10 Nov Insurance For All Sorts of Film Productions

The term “film” immediately brings to mind the Hollywood blockbuster, but many other types of film are produced every day, from news programs covering important world events to commercials to be broadcast designed for a tiny niche market. One thing many films have in common is filming insurance to protect filmmakers from some of the risks involved in making a film.

Filming insurance provides financial protection for loss or damage to property used in making films, and for expenses that arise when unplanned events disrupt film production. The four most common filming insurance products are cast insurance, errors and omissions insurance, general film production insurance and completion bonding.

It’s easy enough for the layman to imagine some of the risks that film making is exposed to, such as the death of a star performer at a late stage of filming a major work, or unseasonal weather for planned outdoor scenes that can’t be simulated in a studio.  However, there are many other mishaps that could give rise to insurance claims by film makers: consider the effects of equipment failure, damage to sets or costumes in a disastrous weather event, or a highly trained animal star refusing to co-operate half-way through filming.

Troubles like these on the live film set are probably the reason so many filmmakers opt to produce films featuring virtual, man-made stars! It’s interesting to note that independent film producers who are not backed by major industry organizations depend heavily on completion bonding insurance for financing their productions. Without this type of filming insurance many important films would never have been completed.
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