Friday, 24 February 2017

Rajinikanth's Robot 2 set to become highest insured Indian film

Rajinikanth and Akshay Kumar-starrer Robot 2 is set to become the highest insured Indian film in history. Lyca Productions has taken a cover of Rs 350 crore for production costs along, with plans to subscribe for additional cover for distribution closer to the Diwali release date of the Tamil film. The sci-fi feature is already touted as the most expensive film with a budget of Rs 400 crore. Its futuristic feel has resulted in high production costs and so the makers are going the extra mile to take precautions, with a consortium of public and private general insurers providing the cover. 

In 1999, Aishwarya Rai Bachchan-starrer Taal was one of the first films to be insured. Since then, securing insurance cover for films has become a norm in the industry and the size of the cover has been ever-increasing. 

Salman Khan-starrer Kick, which released in 2014, was insured for almost Rs 300 crore, including distribution costs. The distributor took a policy to cover the loss of revenue for 60 days from the date of release. 

Almost all producers take such policies to ensure business interests are not severely affected by a poor showing at the box office.

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