Insurance and risk management in the movie industry
Producing movies is very expensive the estimates evaluate every single day on the set of a blockbuster between $200 and $700 thousand, while every delay’s day can cost up to $500 thousand. The accidents that can involve actors and stuntmen, the damages to the set or to the props, but also the weather can considerably impact on production costs and on the artistic project success. For this reason, the insurance sector has always been a main partner for the movie industry in risk management. Compared to the budget allocated for a blockbuster movie, insurance premiums account for a sum between 1 and 5% overall.