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Sooryavanshi And '83 To Suffer Losses As Insurance Policies Exclude Coronavirus Clause?

Akshay Kumar's Sooryavanshi and Ranveer Singh's '83 might face major losses as movies get insured only after their release. Read more to know the details.

sooryavanshi

Coronavirus in India has started taking its toll on the major cities of the country. In order to control the spread of the pandemic, the Government of India issued a coronavirus lockdown which had a great impact on many industries, including the entertainment industry. Akshay Kumar's Sooryavanshi and Ranveer Singh's '83 have suffered great losses and they might not be covered by insurance, as per an entertainment source.

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Sooryavanshi and '83 suffer losses

The entertainment portal revealed that a film gets insured only after its release in the theatres. Since the release of both Sooryavanshi and '83 have been kept on hold, there is a chance that their losses might not be covered under insurance. A senior officer of the insurance sector reportedly revealed some facts related to the same to a leading daily. He talked about how the coronavirus clause has been excluded from the losses that the filmmakers might face during production. 

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A post shared by Rohit Shetty (@itsrohitshetty) on

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The films that will have a delayed release because of a postponement or rescheduling due to the coronavirus will not be covered by the policies. While epidemics are a part of the policies when they are sold to the clients, coronavirus has now been excluded from the pre-existing conditions. This is similar to a situation when you buy a policy after you a diagnosed with a disease and you need to go through surgery. The policy will not cover the cost of your surgery. 

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A post shared by Ranveer Singh (@ranveersingh) on

According to reports, Sumant Salian from Alliance Insurance Brokers also gave some insight into the situation. He shared that the loss is irrecoverable if the cinemas are shut for a month or two. While the producers and distributors can still earn after the delayed release, it is the loss of the theatres and their staff as they have a fixed cost like rent, electricity, and maintenance to be paid.

ALSO READ | Delhi Police Uses Sooryavanshi Poster For Warning Fake News Peddlers

 

 

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