A ₹200-crore cover for Bahubali - 2

K V Kurmanath Hyderabad | Updated on January 11, 2018

Fans celebrate by pouring milk on the cutout of actor Prabhas

Bahubali 2: The Conclusion, which has been re-writing revenue-collection records, has taken a whopping ₹200-crore insurance cover from Future Generali India Insurance (FGII).

The insurance firm has confirmed issuing the policy for the film. “We have provided cover (for Bahubali) under our film package,” KG Krishnamoorthy Rao, Chief Executive Officer, FGII, told BusinessLine.

The firm has so far issued 370 film policies. Of this, about 160 were issued, mostly in Bollywood, in the last financial year. “We would now like to focus on the Southern market as well,” he said.

Rao said there has been a growing interest from film-production houses to take a cover to safeguard from risks.

“They take cover against losses to property, equipment and personal insurance for lead actors. An accident or loss to property could delay the shooting time, resulting in losses. Insurance cover helps them face such risks.” he said.

Bahubali 2, which was made with a budget of ₹450 crore, is creating records in collections, with the first four days recording a gross of ₹450 crore. The producers are gunning for a total revenue of ₹1,000 crore, a first for any film made in India.

Rao said the interest for film insurance covers has been growing in India since corporates entered film production.

“Earlier, films used to be produced by financiers. Now, more corporates have entered the space. They understand the risks better,” he said.

The company covers a film from pre-production to post-production. It insures the movie against unforeseen incidents such as death, illness of an actor, occurrence of natural calamities or accidental damage leading to delays in the film schedule.

Additionally, it covers against the film’s legal liability to pay damages for third-party civil claims arising out of bodily injury or property damage caused due to accidents.

Published on May 03, 2017

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