Going by the reports, the insurance doesn’t cover the lockdown which might cause a huge loss to Akshay Kumar’s Sooryavanshi and Ranveer Singh’s ’83!
There’s no doubt about the fact that the national lockdown due to coronavirus has severely affected the economy of the country. And one of the most affected industries has been the entertainment industry. Now going by the media reports, Akshay Kumar’s Sooryavanshi and Ranveer Singh’s ’83 might incur huge losses as the insurance doesn’t cover the lockdown.
A senior official working with an insurance company told Mirror, “Since February, Coronavirus is excluded as a clause for any loss incurred by filmmakers during production. Film releases being postponed or filming rescheduled due to the outbreak are not covered by the policies. While epidemics are usually covered when policies are sold to the clients, Coronavirus has been excluded from pre-existing conditions.”
Sumant Salian of Alliance Insurance Brokers told the daily that deferring shoot schedules is a precautionary measure and delaying releases is a commercial call. “As a prudent citizen or a businessman, if I take the call to be ready to take a hit on business. Because I don’t want to risk my employees, it is a precautionary measure. Likewise, deferring a release when the situation is adverse around a pre-decided date is voluntary. Distributors Loss of Profit/Revenue policy comes into effect only after the film releases,” he explained.
Apart from Sooryavanshi and ’83, there are several other films which might get a severe blow due to the lockdown. Sandeep Aur Pinky Faraar, Coolie No. 1, Radhe, Laxxmi Bomb and several others films’ release is at stake. There have been several others whose shoot is on halt like Brahmastra, Atrangi Re, Gangubai Kathiawadi, Bhool Bhulaiyaa 2, Jersey and Dostana 2.