Rajnikanth's upcoming Robot 2.0 sets a record with a Rs 330 crore insurance cover
Advertisement
Advertisement
Superstar State-run New India Assurance, Oriental Insurance and United India Insurance will underwrite the production, they said. When the film goes into the cinema halls, total insurance amount will double— distribution cover will equal that on production, they said.
Remuneration for the top four stars of film, which is being made in Tamil and possibly other languages, is also among the highest at Rs 150 crore. Apart from the Tamil star, they include Akshay Kumar and Amy Jackson, who takes over from Aishwarya Rai, who was the heroine of Enthiran. S Shankar will direct again.
"This is the highest ever insured movie after Aamir Khan starrer PK and Salman Khan's Kick," said Sumant Salian, business head, media and entertainment, Alliance Insurance Brokers. "Insurance cover for Robot 2 would double when the movie is ready and it goes for distribution."
State-run general insurance companies have a penchant for movies with star casts as the risk of them flopping are low. Producers are increasingly opting for insurance to protect themselves against projects getting delayed because of star tantrums and other unforeseen reasons.
Advertisement
Insurance covers risk from preproduction till the first copy of the movie. Various contingencies such as shoot cancellation, property risk, personal accident and thirdparty liabilities are also covered. Production insurance covers loss of life or property on film sets. The media liability policy is a kind of errors and omissions liability insurance, mainly insuring against legal issues arising out of a movie's content. The policy also covers post-release issues as a result of riots or strike.
Baahubali, a two-part film in Telugu and other languages written and directed by SS Rajamouli, had production insurance cover of Rs 200 crore. Director and producer Subhash Ghai was the first to buy insurance cover for his film Taal, which was released in 1999.
Image credit: Indiatimes
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market