With films being insured, Bollywood is more secure now than ever. The films “Life Partner” and “Kaminey” did not do any business in Mumbai and Pune over the weekends as all the multiplexes and theatres were shut down because of swine flu scare.
However, the producers of these films did not suffer much of a loss because both “Life Partner” and “Kaminey” were insured.
Film insurances are of three types:
- Production insurance where the lead actors, the crew and the sets of the films are insured.
- Errors and Omission insurance in which legal matters are taken care of and the insurance company also pays the court fees to the producer.
- Distribution insurance in which the insurance company pays for any losses suffered by the producer when the release of the film is stalled due to any reasons.