Essential Elements (EE) Cast Insurance is extended and enhanced cast insurance. If the designated actor were to be incapacitated and could not continue working halfway through the film, then you as a producer would have the option of abandoning the series or feature and receiving all the money you have spent to date back as an insurance claim.
Standard cast coverage obligates you to recast and start over with another actor. Given that you can walk away from the film when you have insurance for essential elements cast, there is more risk for the insurance company and as a result, there is an additional premium of $5,000 to $15,000 (subject to change) for each designated EE cast member. There are additional cast medical tests as well to arrange EE:
Typically, a distributor that does not want the project without a particular actor or director involved requires EE: think the Rocky franchise. A distributor would probably not want Rocky IV if Sylvester Stallone was not able to complete. The distributor would not want the film with another actor.
Has a distributor or financier made their participation contingent on your actor being involved? If so, I can assist in my role as a specialized film insurance broker at Front Row Insurance Brokers.