AXA XL discusses risk transfer for the movie business
Films are big business; global box office revenue is predicted to reach $50 billion in 2020.
As with any large, global business, making films involve myriad, sometimes complex, risks that must be assessed, managed and in most cases transferred.
From the set to the cutting room to the red carpet, the risks associated with producing movies are varied and ever changing. Production can be affected by all manner of factors – such as weather, illness, theft, terrorism or security threats. Each film has a unique set of risks according to its location, its cast and crew, its script and even the techniques used in making the film.
To understand the risks involved in producing a film, underwriters review the script, the budget, shooting schedules, locations, logistics, and crews, for example.
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AXA XL, the new division of AXA Group, combines XL Group operations, AXA Corporate Solutions and AXA Art, to provide property, casualty and specialty risk insurance and risk management products and services for mid-sized companies through to multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward.
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