What does Negative, Faulty Stock, Camera & Processing cover?
Negative Insurance covers the extra expenditure (over and above budget) incurred to re-shoot or repair footage which has suffered accidental physical loss, damage or destruction from an external cause. If it is agreed by insurers to abandon the production, costs incurred up to the date of abandonment which are ‘rendered valueless’ are recoverable under this insurance. Besides negative film and tapes, this cover usually includes raw film stock, raw videotape, exposed film (developed or undeveloped), recorded videotape, matrices, lavenders, positives, working prints, software and related material used to generate computer images. Faulty Stock, Camera and Processing Insurance is a normal extension to Negative Risk Insurance. This cover pays ‘reasonable additional costs’ which are incurred to re-shoot or repair footage, following physical loss, damage or destruction caused by fogging or the use of faulty materials (including cameras), faulty sound equipment or sound tracks, faulty developi
