‘Fast & Furious 7’ Insurance Claim Could Reach Record-Breaking $50 Million

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A chronicle of this story initial seemed in a May 30 emanate of The Hollywood Reporter magazine.

When Paul Walker was killed in Nov in a midst of sharpened Fast Furious 7, it was transparent a actor’s black genocide could trigger by distant a largest word explain in Hollywood history. That now appears to be a box as a plan is undergoing an effects-packed 13-week fire that will cap in Jul with an huge throng stage regulating 600 people in a city of Rosamond, nearby Bakersfield, Calif. But according to a source with trust of a situation, there is flourishing tragedy between Universal Pictures and a insurer, Fireman’s Fund, over a distance of a record-smashing explain in a ballpark of $50 million.

PHOTOS: Paul Walker’s Career in Pictures

The cost of finishing Fast Furious 7, creatively budgeted during $200 million, will be daunting, even yet a chairman with ties to a plan says a storyline has not altered drastically. “They are finishing a film some-more or reduction as scripted, replacing Paul with [computer-generated] face replacement,” says this person. “They have dual of Paul’s brothers as good as an actor to ‘play’ Paul when needed.” (The Walker brothers, 25-year-old Cody and 36-year-old Caleb, both are assisting fill in for their hermit physically — Caleb essentially for physique distance and mannerisms and Cody for a eyes. But a filmmakers need to emanate a impression that not usually looks like Paul though also performs like him. That’s a actor’s job.) Peter Jackson‘s Weta is rebellious a effects work regulating 3 cameras (in further to a main-unit cameras) to constraint Walker’s stand-ins for face replacement. “There is a large volume of gear,” reports a source. “Everything they wish with Paul gets finished 3 times over. Three [actors] times 7 cameras per shot is a clusterf— of income being spent.”

Director James Wan also will come adult with new scenes from new footage Walker had shot for a prior dual Fast Furious films.

All of this has valid expensive, and word attorney Brian Kingman of Arthur J. Gallagher Co. believes Fireman’s Fund will have to compensate some-more than $50 million on a film now estimated to cost $250 million or more. A orator for Fireman’s Fund declined comment, though in a 2012 contention about a hurdles of movie-business insurance, Fireman’s Fund party underwriting executive Wendy Diaz noted that delays alone can cost as most as $250,000 a day on a big- bill movie, adding adult to “millions of dollars.”

In a box of Fast Furious 7, Walker’s genocide Nov. 30 during age 40 in a Porsche pile-up not usually caused some-more than 4 months of check though also necessitated additional work from author Chris Morgan before filming and effects work could restart. A fire set to hang in Jan now is scheduled to finish in July, requiring a prolongation to compensate stars including Vin Diesel some-more to keep them longer. Fireman’s Fund is not on a offshoot for a whole cost of finishing a film since Universal contingency compensate what it would have cost to finish a plan had a collision not occurred. But therein lies a brawl since it is a matter of visualisation what writer Neal Moritz and a studio felt was compulsory to finish a film though Walker. A Universal deputy denies any tension, observant a word association has been “nothing though supportive.”

In such cases, says Kingman, questions of either and how a film will be finished and what commission contingency be paid by a insurer are worked out in negotiations between a insurer and a studio’s attorney — in this case, Fireman’s Fund and Aon/Albert G. Ruben. An sensitive source says a insurer and Universal are during contingency over how most of a ongoing work was necessitated by Walker’s genocide and how most cost a studio would have incurred regardless as it finished a movie.

STORY: Paul Walker’s Brothers to Help Complete ‘Fast Furious 7’ Action Scenes

Intending to keep a authorization going, Universal is during work on an eighth installment and presumably more. Fast Furious 7 is set for recover Apr 10, 2015.

Universal, like all studios, customarily has word on projects to strengthen a investment if tragedy strikes. The record for an word allotment on a vital authorization film appears to have come on Marvel’s Iron Man 3, that was behind 3 weeks in Aug 2012 after star Robert Downey Jr. pennyless his ankle. Sources brace that allotment during $10 million to $15 million. A incomparable allotment of about $20 million was paid when John Candy died in a center of filming Wagons East! for Carolco in 1994. (The film was finished though achieved poorly.)

Fast Furious production resumed in Apr in Atlanta and returned to Abu Dhabi for a week of shooting. It now has changed to Southern California (during new days, it was filming during Leo Carrillo State Park in Malibu).

In a arise of a deadly crash, it was misleading either Universal would throw a film and start anew — that presumably would have been even some-more costly for a insurer — or reinstate Walker with another actor or discharge his character. Since determining to keep Walker in a film, a studio has courted fans by characterizing a pierce as a reverence to a actor. An Apr matter on a movie’s Facebook page read: “We trust the fans wish that, and we trust Paul would wish that, too.”

Matthew Belloni contributed to this report.

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