In fact, just last week, the first of possibly many comprehensive risk cover options was introduced to a team of filmfolk, at a seminar at the Holiday Inn, Juhu, Mumbai. The package is brought to India by Tata Risk Cover Management Services and the international insurance company, Athena Insurance and Reinsurance Brokers.

In a recent report published in SCREEN several bankers had expressed their willingness to provide funds for filmmakers, provided they could find recognised organisations that were willing to provide them with insurance cover. Filmmakers have been provided with insurance cover in the past, but they complained about the inadequate services provided by these insurance specialists. The filmmakers objected to the services on three counts: No contracts were ever signed, whether for actors or technical crew; the tendency of artistes to participate in a number of projects simultaneously, made the provision of cast insurance extremely difficult; and there was concern over the risk management control for camera testing, rushes, negative storage and the like.

The film production insurance package introduced to filmfolk by Atena and Tata, is designed to settle the filmmakers’ afore-mentioned grievances. In addition, it also has the following constituents:

Extended Pre-Production: The policy indemnifies the producer in protecting his finances for a project involving key named personnel such as director, cinematographer, or major artiste without whom, in the event of a serious injury, illness or death, he would have to delay or even abandon the project.

Cast Insurance: The policy indemnifies the producer against additional production costs incurred owing to injury, illness or death of key named personnel during or for a period before the shoot. It also covers the cost of ‘down-time’ incurred due to an insured person having to leave the project as a result of the death of a family member. It requires the insured key personnel to attend a medical examination by an approved doctor, failing which cover on an ‘accident only’ basis would be provided.

Negative/Faulty Stock, Camera and Processing Insurance: The policy indemnifies the producer against additional production costs/re-shoot costs incurred due to the loss of or damage to raw stock, exposed film, sound stock and sound recordings.

Props, Sets & Wardrobe: The policy provides the producer ‘All Risks’ cover for props, sets and wardrobe items whether owned, hired or loaned whilst under their care.

Miscellaneous Equipment: As with Props, Sets and Wardrobe, the policy provides the producer with ‘All Risks’ cover in respect of all camera, sound, electrical and other equipment whether owned, hired or loaned.

Third Party Property Damage: The policy protects the producer against legal liabilities for loss of or damage to third party property whilst under their care. It includes loss of use/hire charges which the producer may be charged by the suppliers.

Extra Expense: The policy provides indemnity in the event of essential props, sets, wardrobe, equipment or facilities being damaged or destroyed therefore resulting in increased production costs.

Money Insurance: The policy provides cover for all monies being handled by the producer, in transit or on their business premises for use on the project.

Commercial Vehicle Physical Damage: The policy protects the producer against accidental damage, fire and theft incurred to action and facility vehicles which they use on the project, for which they are responsible. Cover under this heading excludes passenger and third party liability.

Office Contents: The policy provides the producer with ‘All Risks’ cover in respect of office contents owned/hired/loaned due to their having to set up temporary offices to work on the project.

Employers Liability/Workmens Compensation: The policy protects the production company against any legal liability for bodily injury, death, disease or illness of an employee (including freelance personnel and artistes involved in the project) whilst under their employ.

Public Liability: The policy protects the production company in respect of its legal liability to pay damages or compensation to third parties arising out of its negligence.

Foreign Unit Travel Insurance: In accordance with any film union agreements, a producer is obliged to insure all personnel travelling in connection with the project. The policy usually includes a certain amount for personal accident, temporary life, sickness, medical expenses, baggage and personal money.

Errors & Omissions: The policy indemnifies the producer or other insured named on the policy for claims arising from libel, slander, defamation, plagiarism, infringement of copyright, invasion of privacy, incorrect use of formats, ideas and titles.

Premium for the film production insurance package will be calculated by applying a percentage rate to the net insurable costs of production, which will need to be assessed by reviewing each budget.

The following are the items about which producers will be asked to provide detailed information: the names and credentials of studios to be used, and their staff; of facilities houses to be used; of laboratories to be used; and names of suppliers of equipment.

Among the film personalities who attended the seminar were Amitabh Bachchan, Subhash Ghai, Pahlaj Nihalani, Bharat Shah, Boney Kapoor, Ashok Thakeria, Dinesh Gandhi, Shyam Shroff, A Krishnamurthi, Rajkumar Kohli, Salim Akthar, Govind Nihalani, Suneel Darshan, NR Pachisia, Ramesh Taurani, Vashu Bhagnani, Guddu Dhanoa, Johnny Bakshi, Amit Khanna, Gaffarbhai Nadiadwala, KD Shorey, Vinod Chopra, Santosh Singh Jain and Kanti Mehta.