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I'd like to thank... my broker?


On 26 February film stars from far and wide will walk the red carpet at the 84th Academy Awards in Hollywood.   Oscar winners will thank a variety of people for their awards but there are two key people that are likely to be left off the list - underwriters and brokers.  Yet without insurance cover, many of the films nominated would not have made it to the big screen. 

Nine films are in the frame for the Best Picture award which is seen to be the most coveted award of the night.  Unsurprisingly, the most costly of the nominations in this category is 3D adventure drama Hugo - over $150 million was spent on the making of the film.  Spending such a large amount of money on a motion picture carries a huge risk.  What if a member of cast gets ill or a piece of specialised equipment breaks?  What happens if adverse weather destroys the film set and shooting is delayed?
 
Hiscox, a leading specialist insurer, states that each day's delay in a £2 million budget film can easily cost £30,000-£40,000 - an exposure that remains constant throughout the shoot, for 26 weeks or more.  Hiscox can provide cover for such eventualities which provides financial backers with the peace of mind they need to back big-budget movies.

Film production is just one of the areas that we cover in our Discover Risk game.  Whilst gushing Oscar nominees are practising their acceptance speeches, why not apply to play the Discover Risk game at your school or college and have a go at risk assessing a film production yourself?  To apply, click here.

 


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