Kerala has provided several filming locations to many hit films across different languages. “Local language films usually have a shorter shooting schedule and the producers think that nothing much can go wrong,” he commented on regional films.11.
This is the reason why it wasn’t pretty popular earlier,” said Rao. Film insurance can be claimed only when the losses are substantiated and through legal payment modes. “The trend of financing films in a more transparent manner has taken off only in the past few years. For example they discuss the critical scenes, the possible damages and the expenses required to redo it,” explained Rao.Īccording to Rao, while the usage of film insurance in Bollywood is 10-15 per cent, in regional film industries it stands at a mere 5 per cent. The interaction between film producers and insurers helps in deciding the amount for which the film is insured. “An unforeseen circumstance which causes damage to the sets or the postponement of the shooting schedule makes it eligible for the producer to claim insurance. “We have definitely started getting a lot more inquiries,” added Rao, whose firm has insured over 370 films so far.įilm Insurance’s journey in India started with the movie Taal and has been, since then, a profitable business proposition even if not the most popular one. The insurance story, too, grabbed eyeballs for the significantly huge amount for which it was insured.”īut the phone hasn’t stopped ringing hence. Talking about how it made news all over, Rao said, “ Baahubali was already in the eyes of all and making news about every little thing. Krishnamoorthy Rao talked about how they insured Baahubali and the road ahead for film insurance.įuture Generali being one of the few players in the market that offers film insurance bagged the Baahubali deal. In course of his conversation with the Entrepreneur India, MD and CEO of Future Generali India Insurance Company Limited K.G.
While it started in India with the movie, Taal, other films followed suit and today it has come to the forefront again with Baahubali 2: The Conclusion. The Insurance sector is witnessing a spurt of diversification with film insurance gaining unprecedented popularity.
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