CineFinance offers prod’n insurance

World Brief

U.S.-based completion bond company CineFinance’s Hong Kong office is finally offering production insurance to film companies after a two-year delay.

It had planned to offer an insurance service when it set up its Hong Kong branch in 2001, but manager Ivy Law was only recently licensed to be an underwriter for Lloyd’s of London.

CineFinance found a gap in Hong Kong’s film industry when it first set up office: no other company was offering a completion guarantee that would see a film completed and delivered to a distributor on time within budget and on schedule.

CineFinance is readying EMG’s Jackie Chan-starrer “Highbinders,” directed by Gordan Chan, for delivery to Miramax, which has the U.S. rights.

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