There's a lot of risk in movies. We don't mean movies about risk and insurance, though there are a few pretty solid options in that genre ("Double Indemnity," "The Thomas Crown Affair," "Along Came Polly," "The Apartment," "Cedar Rapids" — even Mr. Incredible does a short stint at an insurance firm).

We're talking about movies with big production risks — which don't always pay off. A typical Hollywood movie requires a host of coverages, including general liability, property and inland marine, auto, workers' compensation, even data and cybersecurity.

Film producers have to make sure that they have coverage for more industry-specific elements like props and sets, film and video protection, cast insurance and third-party property damage. This means that underwriters get early access to scripts and budgets, but they also have the difficult task of writing policies for employees (a cast) that live unconventional lifestyles, using highly technical equipment in rough locations, and all the one-off risks that come with dropping cars out of an airplane or creating a replica of a portion of the tallest building in the world.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.