To Knee Or Not To Knee the Turns of Movie Insurance

Here is my take on insurance coverage for the entertainment industry and its use to produce films and movies.

Nicole Kidman. Oh yes, I’ve heard of this fine young lady. I’m sure she’s memorized Tom Cruise’s cracks for entertainment, in the same way I’m now so intimate with the cracks on the ceiling of my California retirement home.  

But that’s not the reason why I’ve heard of her. She actual became a legend in the insurance world a few years before my retirement in 2004. And it was all because of the injury on her right knee while she was shooting Moulin Rouge in 2000. Now I really don’t know what caused her injury, but I do know Moulin Rouge’s producers claimed $3 million from the insurance company because of shooting delays caused by her knee.  

In my days, I rarely closed movie insurance policies, although I did sell a couple of policies to Lion’s Circle Production. That was quite a star-struck experience then - I was literally struck by Warren Beatty. That brat mistook me for Carly Simon’s hit man during the shooting of Splinter in the Grass. (I dropped the hint on who Simon was singing about in “You’re So Vain”.)  

Of course, at that time, I didn’t care much for movie actors. I still don’t care about them now. But these days, I am amazed about the popularity of insuring movie actors and their movies.  
In case you didn’t know, financiers of film production these days are smart enough to insure any movie in production with a completion bond or insurance (from one insurance company), to pay for any losses that may arise from any shooting delays (Moulin Rouge’s financers incurred some losses when they were delayed by Nicole’s injury). 

Aside from insuring the movie itself, financiers are smarter enough to get insurance for the cast of the movie itself (from another insurance company). You may well know the accidents that can happen in any film production.  

More then just covering the actors I heard of people taking out weather insurance incase the out door shooting gets delayed. This entertainment insurance is the same old thing, people or using it for all productions, even concerts.

It really has become a big industry this movie and film insurance. I surfed the web for a while and I found what looks to be a reputable entertainment insurance company. Still I never knew these guys and you can never really tell by the site.

That James Bond fellow could’ve easily lost a toe, you know, just for drinking that shaken but unstirred martini.

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