![]() ![]() The producing team declined to comment for this article, although a spokeswoman confirmed the insurance details. “And it’s the last place where you want to save money.” ![]() “Producers who don’t want to bond are only doing so to save money,” said Randy Greenberg, a producer, film finance consultant and former studio executive. Such a policy costs about 2 percent of a film’s budget. What the “Rust” producers did not secure is a completion bond - an often-expensive package that serves as a type of umbrella policy should anything horrific happen and the production can’t be completed. Baldwin and his five fellow “ Rust” producers a package covering a wide range of potential problems, including damage to equipment (a cracked camera lens), injury to cast and crew (a broken wrist after a fall) and the worst-case situation of a death on the set. Forgoing full coverage, Hollywood veterans say, is less a sign of optimism than corner cutting.Īlec Baldwin’s now-infamous “ Rust” had only one.Ĭhubb, the insurance giant, sold Mr. LOS ANGELES - Independent film productions that cost more than a few million dollars often carry two forms of insurance in case something goes wrong. ![]()
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