Cornerstone Insurance PLC, has partnered with the Africa Film Finance, Insurance & Risk Management Framework (AFFIRM), an initiative focused on improving risk management and access to funding for Nigeria’s creative film industry.
The partnership brings together Cornerstone, film producers, financial institutions, completion partners and other industry stakeholders to create a more structured approach to financing film productions.
As part of the partnership, the company will bring its insurance expertise to the sector, with solutions covering areas such as; Production Insurance, Cast Insurance, Production Interruption Insurance, Public Liability and Errors & Omissions (E&O) Insurance.
For Cornerstone, the partnership is an opportunity to support Nigeria’s growing creative economy while offering insurance solutions that give filmmakers and investors greater confidence.
Commenting on the partnership, Peter Ekwueme, Executive Director, Technical Operations, Cornerstone Insurance PLC, said:“Africa’s creative industry has significant potential, and insurance can play an important role in managing the risks that come with this growth. Our partnership with AFFIRM reflects Cornerstone’s commitment to developing innovative insurance solutions and supporting the growth of Africa’s film industry.”
Mary Ephraim-Egbas, Founder and CEO, AFFIRM and Africa Film Finance Forum (AFFF), said the partnership would help create a stronger foundation for film financing across Africa.
“To attract more institutional funding into Africa’s film industry, we need structures that give investors and financiers greater confidence. AFFIRM brings insurance, financing, production and completion oversight together to manage these risks. This partnership with Cornerstone Insurance is an important step towards building this ecosystem and creating more opportunities for Nigerian filmmakers.”
The AFFIRM Framework aims to connect film producers with insurance, financing and other support from production through completion and distribution.
The partnership reinforces the company’s commitment to developing innovative solutions for emerging sectors and supporting the growth of Nigeria’s creative economy.
