Is There An Oscar For ?Best Film Insurer'?

Some film company clients keep their coverage details private, but Fireman's Fund said they could reveal that at least two films?"Ray" and "The Aviator"–tapped their coverage because of problems caused by fire and wardrobe destruction.

Suzy Wozniak, underwriting manager for the insurer's entertainment unit, said when it comes to evaluating the risks on a film, a production heavy on dialogue using studio interiors is simpler to deal with. "Talking heads–it's easier to underwrite," she explained.

Enterprises that go abroad are a different matter. For example, "if they are shooting in Morocco we have to find out the political climate and what protections there are for cast and crew," said Ms. Wozniak.

The insurer also looks at what activity the actors are required to perform on the film and how healthy they are.

On the issue of health, Ms. Wozniak said that leading cast members with public histories of substance abuse can be dealt with by arrangements for paid companions to stay with the artist to keep them from straying from their programs.

Such situations might also be dealt with through high deductibles or agreements to pay such actors only on completion of production, she noted.

When it comes to stunts, Fireman's Fund has a loss control person who checks the stunt coordinator's credentials, examines their history and asks whether the stunt is really needed.

Despite the best efforts, things sometimes go awry. John Kozero, a representative for Fireman's Fund, recalled that one shoot involving the destruction of a home had scattered incendiary material that wound up burning down the house next door–a $900,000 unscripted moment.

During the filming of "The Aviator" in California, there were frequent business interruption claims caused by wildfires. A blaze in the Simi Valley burned down a shooting location?a bean field by an airstrip–as well as incinerating an expensive camera truck. Airport filming at San Bernardino was halted when civil authorities took it over to bring in firefighting equipment.

When a company is stopped from filming, workers on the production get paid regardless, and the cost of a day's shoot can run from $30,000 to $500,000 a day, Firemans' Fund staff explained.

Sue Ann Howard, a general adjuster for the Novato, Calif.-based carrier, said that pieces of rental wardrobe can be insured for up to 10 times their value, so when a wardrobe trailer with vintage costumes for the movie "Ray" went up in smoke it was an expensive claim.

Wardrobe vendors were asking $1,000 for a set of 1960s pedal pushers, but she said she was able to negotiate values when she located comparable wardrobe for far less money.

Ms. Wozniak said the insurer generally tries not to interfere with the creativity of a picture, and that filmmakers frequently will consult them because for 80 years they have looked at risk and have the attitude of "been there, done that."

All told, for this year's Oscars, Fireman's Fund will have insured 16 contending films, which amassed 61 of 113 nominations for all categories, including all five for Best Lead Actor and Best Supporting Actor, as well as four out of five for Best Director and Best Supporting Actress.