INDIAN INSURERS APPROACHED BY SITCOMS FOR COVER

Producers of Indian TV series, reality shows and situation comedies are following movie producers in approaching insurers for cover, reports India’s Economic Times . Bajaj Allianz and United India have been the main players in the movie insurance sector in India, but a Bajaj Allianz official told the Economic Times that “TV serials like Baa, Bahu aur Baby aired on Star Plus, FameX on Sony TV, Teen Bahuraniyan, reality shows like Jhalak Dikhla Jaa on Sony, Nach Baliye on Star One and Biggest Loser Jitega on Sahara One are some of the shows we have insured over the last few months”. Bajaj Allianz head of underwriting TA Ramalingam said that “the sum assured varies between Rp10m and Rp50m per TV production and premiums vary between Rp60,000 and Rp75,000. Typically, the cost of insuring is about 0.6% and 0.75% of production cost. Premiums may rise if the production is shot at foreign locations. This compares with a 1% fee for movies, he said. The insurance covers accidents or death to cast members, wardrobes, sets, and interruptions to shooting for various reasons.