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Film Insurance: Coverage for Productions

A product is anything offered for sale, including physical items, services, and digital offerings. Every product has a cost to produce, a price it is sold at, a useful lifetime, and a lifecycle after which it needs to be reinvented or updated. To be successful, a product needs to fulfill a relevant need, work well, be communicated to potential users, and have a memorable name or brand. It also needs to be adaptable to changing trends and markets over time.

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Girish Sahare
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147 views2 pages

Film Insurance: Coverage for Productions

A product is anything offered for sale, including physical items, services, and digital offerings. Every product has a cost to produce, a price it is sold at, a useful lifetime, and a lifecycle after which it needs to be reinvented or updated. To be successful, a product needs to fulfill a relevant need, work well, be communicated to potential users, and have a memorable name or brand. It also needs to be adaptable to changing trends and markets over time.

Uploaded by

Girish Sahare
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Definition: A product is the item offered for sale.

A product can be a service or


an item. It can be physical or in virtual or cyber form. Every product is made at
a cost and each is sold at a price. The price that can be charged depends on
the market, the quality, the marketing and the segment that is targeted. Each
product has a useful life after which it needs replacement, and a life cycle after
which it has to be re-invented. In FMCG parlance, a brand can be revamped,
re-launched or extended to make it more relevant to the segment and times,
often keeping the product almost the same.

Description: A product needs to be relevant: the users must have an


immediate use for it. A product needs to be functionally able to do what it is
supposed to, and do it with a good quality.
A product needs to be communicated: Users and potential users must know
why they need to use it, what benefits they can derive from it, and what it does
difference it does to their lives. Advertising and 'brand building' best do this.

A product needs a name: a name that people remember and relate to. A
product with a name becomes a brand. It helps it stand out from the clutter of
products and names.

A product should be adaptable: with trends, time and change in segments, the
product should lend itself to adaptation to make it more relevant and maintain
its revenue stream.
Film Insurance
A major interruption of the shooting can occur when one of the
main actors gets injured or sick, preventing him to show up on
the Film set. A stand still or interruption of the shootings can
cause high extra costs because the fix cost of Film crew,
equipment & material, location cost, etc. will have to be paid
anyway. The same applies when Film equipment gets damaged
and, apart from the material damages of the equipment, the crew
will also be unable to finish the planned shootings.

Scope of services at a glance


The film package insurance policy insures against financial consequences
the production would suffer following a postponement, a stoppage or
abandonment of the shooting in the sole event of a death, injury by
accident or illness of a person being part of the cast. The insurance will
also cover the equipment necessary for the production, the sets, costumes
and entrusted property. Next to material damages the insurance will also
grant cover for legal liability during the production period.

Highlights
Professional, real-world know-how: HDI has used their long experience to
build up a professional team that knows what is happening in the Film and
Event world, and is working in a close partnership with Clients and Brokers
to give the best service.

Globally consistent cover and compliance


Thanks to our global network we are able to provide the same consistent
cover throughout most of the countries our Clients are focused on,
whether it be directly or in case of a co-production with a local Film or
Event production company.

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