The following types of production-related insurance are available in Austria:
Insurance for Film Negatives: Includes coverage for the destruction, theft and/or other loss for up to the entire production costs. Covered are all costs to restore damaged film due to camera, transport, and copy malfunction as well as damage from mechanical and electronic editing or deletion of the tape(s). The same conditions apply to the Insurance for Film Positives.
Completion Insurance covers any financial loss resulting from interference or interruptions of the production due to illness, accident or death of key production members (directors, actors) and refunds related extra costs incurred. In the case of the termination of the production, accrued production costs will be refunded.
Accident insurance is personal insurance covering the results of an accident. Next to individual risk coverage, the entire crew, including actors and extras can be covered under an accident insurance policy. Premiums are based on the type of risk situation.
Other types of insurance policies available include fire, operational interruption due to fire, break-in theft, and transport insurance.
Only a few Austrian insurance companies offer film insurance as such due to the industry-specific risks involved. It is therefore advised to seek professional help from a certified Austrian insurance agent.
Liability Insurance covers the policy holder‘s personal assets and protects the policy holder’s assests from indemnity claims by third parties. Generally, total production costs determine the amount of the premium. .
The producer may choose to either purchase a blanket insurance policy for all film projects (without having to register them individually) or an individual contract for one project. Generally, liability insurance coverage does not include unusual claims such as air travel and automobile races conducted for filming, nor does it include damage to properties, interior spaces, and buildings used for filming. Other claims typically excluded from liability coverage are damage resulting from acrobatic performances and damage from film development and processing.
Props and Lighting Insurance covers damage or loss of props (i.e. costumes, furniture, pictures). Expensive art objects can be insured by additional policy clauses.
Film Equipment Insurance covers damage or loss of film equipment (cameras, cassettes, lenses, light-meters, cables, sound and lighting equipment, etc.).
Errors and Omission Insurance or Completion Bonds are not directly available in Austria at the present time. In case of errors and omission insurance, it is recommended that international production companies arrange coverage in their home country. Completion Bonds can be purchased by an Austrian production company.