MORE PRODUCERS BREATHE EASY WITH FILM INSURANCE PTISee this story in: The

Mumbai: The film insurance business in the country is gathering momentum and may soon become a good revenue-stream for insurance players, industry officials said.

The demand for risk-cover against unanticipated incidents has led film producers to opt for mechanisms that provide protection to their investments, they said. “Films fall into the broad category of event management and hence like any other event, it can also be insured,” Mr K.N. Bhandari, Honorary Director, Centre of Insurance Studies and Research, National Law University, Jodhpur, told PTI here.

Attributing the growth of the business to an increasing number of corporate entities like Adlabs, Sony Pictures and UTV, amongst others, entering the realm of film-making, Mr Bhandari said, “These corporates prefer to be insured against any unforeseen or unfortunate incidents and this is becoming a big driver of growth”.

But the fall-out of this growth is that as the film insurance business picks up steam, in the next few years, so would institutional financing of film-making. “As film insurance gains in popularity, it will also encourage and promote institutional financing of film-making,” Mr Bhandari said.

Source: PTI, The Hindu Business Line