A document by the state-run United India Insurance Company, which in fact started the film insurance business by underwriting Mukta Arts Taal, is quite vague on the topic. Loss of expenses due to a film star being in jail cannot be covered under the film insurance policy.Īlthough there is no clear-cut policy on the subject, insurers point out that they cover accident, but criminal intent is specifically removed from all our books.
Actually, insurance is more of a civil liability. According to an insurance official, We do not cover uncertainty, although we cover death or illness. While underwriting a film insurance policy, the insurers cover things like reimbursement of expenses incurred by the producer due to the death of principal stars, loss or damage to sets, wardrobes, costumes machinery, equipment owned and destroyed due to fire and other perils, as well as theft.īut they do not cover the loss incurred by the producer when the actors, they have signed for, go to jail leaving a number of their film projects unfinished. The main obstacle lies in the nature of insuring a particular film. Still, only one out of every 10 films being produced opt for film insurance. The fact remains that even though insurers are vying with each to insure films, they have not been able to tap the flourishing Hindi film industry, which grossed Rs 5,000 crore in 2006.
The question is at a time when general insurance companies have joined the bandwagon of insuring filmsa trend which began with Subhash Ghais Taal few years agowhy are most filmmakers still insurance-shy And yet, most of their projects are most likely not insured. He has many unfinished projects at hand, including Alibaug, the Rs 50-crore home production with producer Sanjay Gupta, Sanjay Gadhvis Rs 35-crore Kidnap, Mehbooba directed by Neeraj Vohra, Mr Fraud and a host of others.Īccording to industry estimates, theres Rs 500-crore riding on both Salman Khan and Dutt put together. Consider this: Dutt, who is out on interim bail, may have to go back to Yerwada jail as soon as the final blasts judgement is handed over to him. With top Bollywood stars Sanjay Dutt and Salman Khan flitting in and out of jail, many producers are having sleepless nights.
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