The FINANCIAL -- Traditionally, movie studios release their big budget
action-oriented films during the summer and some of this year's highly
anticipated movies, such as "Avengers," "Men in Black 3," "The Amazing
Spider-Man," and "The Dark Knight Rises," are insured by Fireman's Fund
"Summer films typically include action-oriented, big budget films and while fans enjoy watching these movies most aren't aware of the risks involved when filming major stunts, explosions, fight scenes and car chases, which can contribute appreciably to a film's overall risk," said Lauren Bailey, vice president of entertainment at Fireman's Fund.
According to Allianz, with nearly 90 years of experience insuring everything from independent films to major blockbusters, Fireman’s Fund’s entertainment division is dedicated to helping producers and studios shoot the movie on-time, safely and within budget. This is done by analyzing risks and finding creative solutions to address specific exposures.
Fireman's Fund has a dedicated claims and risk services team that works closely with movie studios to review scripts in advance to discuss what elements are planned and collaborate on the safest way to film those scenes.
"As the insurer, we're most concerned with understanding all of the safety measures in place and we work collaboratively to create a safe environment that reduces the risk for everyone involved," said Paul Holehouse, entertainment risk consultant at Fireman's Fund.Movie studios must also protect themselves from a variety of insurance risks and liabilities to their cast members, crew and the production process during the filming process. As the industry leader, Fireman's Fund helps production companies manage unexpected risks by working closely to help protect the safety of all participants while still achieving the director's artistic vision.
"Delays can cost a production millions of dollars if a cast member becomes injured and is unable to work, costing up to 250,000 US-dollars a day for a major budget film," said Wendy Diaz, entertainment underwriting director at Fireman's Fund. "Filming in international locations also poses a variety of challenges, including the set, transportation of film equipment and costumes, and the potential for dealing with illness in a foreign location."
Recently released summer productions insured by Fireman's Fund include: "Avengers" starring Robert Downey Jr., Chris Evans and Scarlett Johansson. "A Little Bit of Heaven" with Kate Hudson and Gael García Bernal. "BattleShip" featuring Alexander Skarsgård and Liam Neeson. "Bel Ami" with Robert Pattinson and Uma Thurman. "Hick" starring Chloë Grace Moretz and Blake Lively. "LOL" with Miley Cyrus, Douglas Booth and Ashley Greene. "Madea's Witness Protection" featuring director Tyler Perry. "Men In Black 3" with Will Smith, Tommy Lee Jones, and Josh Brolin. "Rock of Ages" starring Tom Cruise, Julianne Hough, and Alec Baldwin. "Seeking a Friend for the End of the World" with Steve Carell and Keira Knightly. "Snow White and the Huntsman" featuring Kristen Stewart, Chris Hemsworth and Charlize Theron. "TED" directed by Seth MacFarlane and starring Mark Wahlberg. "That's My Boy" with Adam Sandler and Andy Samberg. "The Amazing Spider-Man" featuring Andrew Garfield and Emma Stone. "What to Expect When You're Expecting" starring Cameron Diaz, Mathew Morrison and J. Todd Smith. "Savages" (Jul. 6) directed by Oliver Stone and featuring Aaron Johnson, Taylor Kitsch and Blake Lively.
Upcoming summer films insured by Fireman's Fund include: "Red Lights" with Sigourney Weaver and Robert De Niro. "The Dark Knight Rises" directed by Christopher Nolan starring Christian Bale, Liam Neeson and Morgan Freeman. "Step Up Revolution" with Kathryn McCormick, Ryan Guzman and Adam G. Sevani. "Total Recall" starring Colin Farrell and Bokeem Woodbine. "The Bourne Legacy" featuring Jeremy Renner, Rachel Weisz and Edward Norton. "Red Hook Summer" directed by Spike Lee. "The Expendables 2" starring Sylvester Stallone, Bruce Willis and Arnold Schwarzenegger. "Sparkle" featuring Jordin Sparks and Whitney Houston. "Premium Rush" starring Joseph Gordon-Levitt. "The Apparition" written and directed by Todd Lincoln. "The Possession" with Natasha Calis and Kyra Sedgwick. "Gangster Squad" featuring Sean Penn, Ryan Gosling and Emma Stone. "The Perks of Being a Wallflower" starring Emma Watson and Logan Lerman.