Chapter 120: Completion Guarantee

This afternoon, Bob Cohen from the Firefighters Fund Insurance Company, a subsidiary of Allianz Insurance Group, received a phone call and immediately came to Burbank, finding Sand Sea Entertainment.

Ronan welcomed the insurance manager in his office.

After Bob Cohen entered the office and exchanged greetings with Ronan, he looked around. The office was simply furnished, with the most striking feature being the movie posters on the wall, including the released films "The Purge" and "The Blair Witch," as well as upcoming releases like "Final Destination" and "Kingsman."

The first two films were hugely successful, representing Hollywood's recent trend of achieving big results with small budgets.

The latter two films were very familiar; the insurance for the productions was handled by the Firefighters Fund.

If these two upcoming films were successful, Ronan Anderson and Relativity Entertainment would definitely garner Hollywood's attention.

The Firefighters Fund, specialized in Hollywood insurance, would likely take notice as well.

Bob Cohen was well aware that as an insurance manager, in order to climb the corporate ladder and earn more commission, he needed heavyweight clients.

"Mr. Anderson," Bob Cohen said politely, "Did you need something from me?"

Ronan had been busy yesterday afternoon supplementing the details of the "Plan A3". The Indian film industry was massive, with Indians visible in many key technical departments in San Francisco and Los Angeles. He couldn't afford to treat "A3 friends" the same way he treated "Arab brothers".

Starting yesterday, he had tasked Robert and George Clint with further collecting detailed information on Indian Bollywood and private film investors, while having lawyer Diana search for relevant Indian legal provisions and sending professional companies to India to understand the investment situation, and so on.

Substantial preparation was necessary for successful financing.

Insurance was also part of it.

The Firefighters Fund was currently the most used and reputable insurance company in Hollywood, backed by the massive multinational corporation Allianz Group.

"I have a new film project here that requires third-party completion guarantee," Ronan said directly. "I'm interested in collaborating with you."

Bob Cohen immediately asked, "Can you tell me about the project?"

Ronan handed Bob Cohen the original work of Robert Ludlum's "The Bourne Identity" and said, "I plan to adapt this novel into a film."

Bob Cohen took it, glanced at the cover. He had heard of this novel and had read it during his school days, but he only remembered it was about a spy story; he had forgotten the details.

It was normal not to remember details after reading a book once or twice, so he didn't mind. He asked, "Have you finalized the script, director, and cast? Do you have any related proposals?"

Apart from the copyright, Ronan had nothing else. He spoke honestly, "This project has just been put on the agenda, and specific work has not yet begun. I intend to seek external financing for production funds and need an insurance company to act as a third-party completion guarantee. However, I have never really worked on completion guarantees before, and I'm not particularly familiar with many aspects of it."

Bob Cohen knew this was true. Both Sand Sea Entertainment and the recently established Relativity Entertainment were small companies before, only gaining some recognition after the success of "The Purge" and "The Blair Witch".

"Mr. Anderson, our company has clear regulations on third-party guarantees in Hollywood," Bob Cohen, just a small business manager, said. "Your company has not worked with us in this regard before."

Ronan continued, "Our company has successfully released two films, 'The Purge' and 'The Blair Witch.' Your involvement in the insurance business for 'Final Destination' and 'Kingsman' has completed filming, and post-production is in its final stages. We have no problem completing filming."

Bob Cohen smiled and said, "I have confidence in your company."

One of the basic functions of third-party guarantees was completion guarantee, which ensured that the film completed all production.

This was a guarantee to the film crew and investors. If the production company or crew encountered problems, the insurance company as the third-party completion guarantee would bear the corresponding responsibility.

For example, if the film production exceeded the deadline, if a major actor suddenly quit, or if the budget exceeded, all these costs would be covered by the insurance company.

If the production team encountered major problems, such as the production company going bankrupt or the director quitting, the third-party guarantee company might even take over the project and find suitable personnel to complete the film, or else they would have to pay a huge amount of compensation.

Of course, as a third-party guarantee, the insurance premium was also not low. The completion guarantee fee for an ordinary film was 2.5% of the budget, adjusted according to the budget and difficulty of the film project.

For films with risky scenes like action movies, the completion guarantee fee was generally 4% of the budget.

"Do you know the budget for this project?" Bob Cohen asked.

Ronan knew how to attract insurance companies and replied, "The budget cost will not be less than $50 million."

Bob Cohen's heart suddenly accelerated. This was a big deal!

For the entire Firefighters Fund, a $50 million budget film project was nothing significant. The company had projects with budgets over $100 million, in collaboration with Hollywood's six major studios. But for Bob, this small business manager, $50 million was unheard of.

"Genre of the movie?" Bob asked again.

Ronan needed third-party completion guarantee, so he was telling the truth: "Currently, the most popular genre in North America is action."

Bob Cohen's heartbeat quickened even more. The completion guarantee fee for action movies was generally 4% of the budget. With a $50 million budget, that meant a $2 million policy.

Judging from the projects under Relativity Entertainment, this company seemed reliable.

Bob Cohen quickly made a decision, "Mr. Anderson, our company has strict requirements for completion guarantee approval." He smiled and added, "Of course, your company has a good reputation, with a 100% completion rate in the past two years..."

Ronan could tell that Bob Cohen was interested.

Bob Cohen slightly emphasized, "With your company's conditions, and with my assistance, the probability of passing the completion guarantee approval process is very high."

Ronan smiled and asked, "What do I need to prepare?"

Bob Cohen valued this business very much and thought for a moment before saying, "I'll go back and draft a plan, outlining the process and materials needed. I'll bring it tomorrow."

"Okay," Ronan agreed. "I'll wait for you here tomorrow morning."

If "The Bourne Identity" could secure the Firefighters Fund as the completion guarantee, even if "Plan A3" failed, he could seek investment elsewhere.

After seeing off Bob Cohen, Ronan retrieved the information he had previously collected on Indian films and investments and began to study them carefully.

Indians also hoped to break into Hollywood. Once their economy developed to a certain extent, they often sought international recognition. The most attractive place for commercial film investment was undoubtedly Hollywood.

Ronan had some impression. In a previous life, after the Indian economy developed, it began to expand internationally, participating in investments or acquiring internationally renowned brands.

For example, after Tata Group acquired Land Rover in the UK, many people called it the Indian divine car.

Of course, this was a derogatory term rather than praise.

One of the most memorable collaborations that Ronan remembers between Indians and Hollywood is when Indian funds invested in DreamWorks' films.

However, according to the timeline, that was several years later.

From what he knows now, Indians are still in the observation stage. It seems that DreamWorks is reluctant to let Indian funds rashly participate in the investment of its major productions.

A knock at the door interrupted. Ronan said, "Come in," and the company's receptionist, Eva, opened the door. She said, "Mr. Anderson, there's a Miss Carmen Case looking for you. She says she's your friend."

"Carmen?"

As Ronan stood up, Carmen Case waved at him from behind the female receptionist.

"Come on in," Ronan invited.

The receptionist quickly left, closing the office door behind her, casting a deliberate glance at Carmen. Carmen Case had long straight hair draped over her shoulders, a small and delicate face, and a well-proportioned figure. Her limbs were slender, and she had an outstanding demeanor...

Comparing herself to Carmen? Forget it, the difference was too great.

Ronan fetched a new cup and poured water for Carmen, asking, "What brings you here?"

Curiously looking at the book on the desk, Carmen said, "I attended an event this morning and had nothing to do in the afternoon and evening, so I came to see you."

She pointed to the book. "Are you studying business management?"

Ronan pulled out a chair and sat down, saying, "I read a bit when I have time. I can manage ten or twenty people, but managing two companies is a bit challenging."

Carmen understood business operations very well. "You could hire a professional manager."

"I've had this idea for a long time," Ronan smiled. "I just haven't found the right person."

The system of professional managers is very common in North America. Ronan had considered this before, but firstly, he couldn't find the right candidate in a short time, and secondly, he needed to participate in practical work to improve his abilities.

He could handle the pressure from Embassy Pictures and Sand Sea Entertainment for now.

Carmen glanced at Ronan. "I'm not disturbing you at work, am I?"

Ronan shook his head. "Not at all."

Carmen picked up the book. "I'll read a bit. You do your work, don't mind me."

Ronan acknowledged with a word and resumed looking through the materials he had before. During this time, he observed Carmen a few times. Carmen was reading the book on business management very seriously.

It was almost time to finish work. Ronan saw Carmen put down the book and tidy up her desk. She said, "Shall we go?"

Looking at him, Carmen asked, "Where to?"

Ronan went over and took her hand, asking, "To my place?"

"Sure," Carmen followed him out.

That evening, the golden warrior was riddled with holes by the eternal spear.