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COVID-19 Insurance for Bollywood Movies

Jul 17, 2020 | 4 weeks ago | Read Time: 4 minutes | By iKnowledge Team

The COVID-19 pandemic has spread at an extraordinary speed, bringing nations into lockdowns and economies to a standstill. Parallel to the toll on human lives, the global economy is also sinking, facing an unprecedented recession.

As the caseload worldwide continues to rise, reported COVID-19 cases in India went over the 9-lakh mark on July 14, 2020. Although the government, pressurized by a slowing economy, has now eased the lockdown, situations are hardly back to normal.

Maharashtra continues to top the COVID-19 tally with 2,67,665 cases as of July 14. The home to one of the largest motion picture industries in the world is witnessing a steady rise in patients. Due to COVID-19, Bollywood (the Hindi film industry), along with other sectors in India, has also been hit hard.

How has COVID-19 affected Bollywood?

Under the ripple effect of COVID-19, Bollywood is struggling with unprecedented revenue loss. The social distancing norms to contain the pandemic has halted productions and stopped theatrical releases. As shootings slowly resume, the industry is looking for new ways to cushion the pandemic’s consequences.

COVID-insurance: Bollywood movies to be insured for COVID-19

Along with crew’s safety, subdued capital flow is another hurdle Bollywood must contend with in this pandemic situation. To mitigate the possible repercussions of shooting amidst the outbreak, filmmakers in Bollywood are taking proactive steps.  

Movie insurance is one such option that directors are exploring. The blockbuster Bahubali: The Conclusion was insured in the past against unanticipated circumstances. Post-lockdown Bollywood is adopting similar measures.

Delays in productions due to crewmembers’ illnesses are usually covered under movie insurance. Leveraging this feature, an upcoming film ‘Loop Lapeta’ might be the first movie to get special insurance for COVID-19.

What benefits does COVID-19 movie insurance offer?

The details of this new type of movie insurance are yet to be finalized. However, if any crew member contracts the virus, others might have to go into quarantine. Also, some members, like the lead cast, can be challenging to replace. If any of such key people fall ill, it can stall shooting until they recover. The insurance will cover any losses the producers might face from such postponements. Providing a window for the investors to wait out such recovery periods, the policy can prevent undue job loss for the staff.

Thus, this new type of insurance might well become a stipulation in COVID-affected Bollywood. Siddharth Anand, Vice President of Films and Events at Saregama, says, “There has to be a new addition in the rules of film production because that will determine the way one shoots films going forward.” Since the virus may remain active for quite some time, such COVID-19 movie insurance contracts are likely to become a norm.

Need for insurance during COVID-19

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Bollywood is famous for setting fashion trends. During COVID-19, Bollywood is emerging as the trendsetter for a vital element – insurance. The virulent disease highlights the need for actions to safeguard against economic consequences. And Bollywood is showing the way ahead.

With COVID insurance in Bollywood, the film industry has managed to underscore the significance of insurance.

Here is a summary of how insurance can help people cope with the pandemic:

1. Financial security

Movie insurance can protect filmmakers against loss of income due to COVID-19. Likewise, human life value also needs insurance. Insurance ensures that producers and financiers are compensated, thereby saving the jobs of the employees. With COVID insurance, Bollywood can continue to entertain the masses even in the midst of the pandemic, while taking complete care of the financiers as well as other employees.

Similarly, human life value also needs insurance. Life insurance protects financial dependents against the loss of the breadwinner’s income.

2. Financial cover for ailments

Through COVID insurance, Bollywood fraternity may receive monetary benefits if the disease strikes a film’s cast and crew. It can help ease the financial burdens of lengthened schedules. Similarly, through critical illness riders that often come with life insurance products, policy owners get lump-sum payouts.

On the diagnosis of any disease covered under the plan, the insurer provides upfront payments. The proceeds can fund expensive healthcare costs. As a result, the policyholders’ savings remain intact, preventing their families from facing monetary shortfalls.

3. Wealth creation

Even during COVID-19, Bollywood is displaying the resilience to work towards movie releases, generating funds for further productions. In a similar way, asset creation requires systemic, regular savings without any pause. Hence, even during the pandemic, working towards corpus creation for future requirements should not halt. Life insurance products with investment components can help with this financial goal.


Due to COVID-19, Bollywood realized the critical role insurance could play in an economic crisis. Life insurance also plays a critical part in the lives of the policyholder’s family. It protects the insured person’s loved ones against economic hardships in the absence of the family’s chief wage earner. However, it is essential to select the insurance provider with care to ensure hassle-free claim settlements. A high claim settlement ratio over 95% can be a reliable indicator of the credibility of a life insurance company.


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