Here is a story from way back.
One night in October 2005.
Darkness flung its garb across the land like a shroud, ingesting everything.
The moon would not strut, and the stars played along, hiding behind sullen clouds.
Across the horizon, darkness prevailed, except for vehicle headlights piercing through the void, accompanied by the muted sounds of nocturnal creatures fading past a speeding bus.
The film crew was traveling from Ijebu-Ode to Abeokuta, southwest Nigeria. Their 32-seater coaster bus plowed through a winding stretch riddled with holes and gullies.
That was the return journey. The team had gone to record a music video and television commercial with the then-state Governor, Otunba Gbenga Daniel, as part of a promotional campaign for the forthcoming national sports festival, Gateway Games 2006.
Veteran highlife musician Oliver De Coque was the team leader.
Others in the entourage include Reggae icon Orits Williki, Juju music veteran, Admiral Dele Abiodun, and many other performers.
The group included a director, producer, actors, dancers, cinematographers, costumers, stylists, and more.
Suddenly, around 11 pm, the bus swerved wildly off the road, followed by explosive sounds of tires bursting.
Screams from passengers were soon drenched by sporadic gunshots.
Suddenly, a gang of gun-wielding men emerged from the darkness.
“Everybody lie down, lie flat, or you are dead… We come to rob una.”
“What happened next?” I hear you ask.
Before we continue, let us explore the issue at hand. An essential but often-overlooked aspect of film production – Insurance.
What is Insurance?
Insurance is a safety net—a policy you pay for to protect you against unforeseen risks.
In film production, it acts as a financial safeguard for people, equipment, locations, and the production process itself.
This coverage can be vital in unexpected accidents, theft, natural disasters, and even production delays, helping you mitigate losses and keeping your production on track.
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The All-round Player in the 21st Century Economy
Insurance is an integral part of modern society and the 21st century economic landscape.
In some sectors, insurance coverage is mandatory. An example, car owners in most countries must have insurance cover.
There are many insurance products in Nigeria. From automobiles to health, home, life, etc. However, few, if any target the film/entertainment industry.
A report by the Nigerian Entertainment Conference (NECLive) indicates that the Nigerian entertainment industry could reach an estimated $14.82 billion in revenue in 2025, up from the $4 billion revenue recorded in 2013.
No doubt, this represents a vast insurance and investment opportunity. Unfortunately, many local filmmakers do not see the need for insurance.
Some say:
“I have faith nothing bad will happen on my set.“
Others contend it is better to use the premium on the production itself. But an insurance cover offers many benefits.
The Benefits of Insurance in Film Production
With the right coverage, insurance can:
Protect Cast and Crew: Ensure medical and liability coverage in case of injuries on set, a must-have in physically demanding shoots.
Safeguard Equipment and Locations: Cover damaged or stolen gear and provides liability coverage for rented filming locations.
Minimize Financial Risk: Help prevent substantial financial loss due to production interruptions, delays, or unforeseen challenges.
Fulfill legal requirements: Many locations and rental companies require proof of insurance before granting permission to shoot.
Increase Professional Credibility: Securing insurance demonstrates professionalism, instilling trust with cast, crew, and investors.
A story of pain and loss
Earlier, we recalled a traumatic incident that happened in October 2005. In the robbery, a film crew lost its camera gear, raw footage, and other valuables.
Fortunately, no one was injured or killed in the traumatic encounter. However, the project had no insurance cover. The material loss fell on the producer and the unfortunate crew members.
There are other incidents. On April 10, 2024, Nollywood actor Junior Pope died in a boat accident in the course of a film shoot.
There are many cases as well. These tragic events underscore the importance of insurance for a film crew or a film project.
Ideal Insurance Policies for Developing Film Industries Like Nollywood
In Hollywood, insurance remains an integral part of the filmmaking process.
While Nollywood may not adopt wholesale insurance policies from abroad, there are policies we can adapt.
A few examples include:
Cast and Crew Medical Coverage: This covers medical costs, accidents, stunt scenes, or hazardous shooting conditions.
Equipment Insurance: Covers valuable and high-cost filming gear.
Public Liability Insurance: Essential for managing risks associated with public filming and on-location shoots.
Errors & Omissions (E&O) Insurance: As Nollywood films gain global reach, this policy safeguards against legal issues related to content, And many others.
Conclusion
Insurance in film production is an invaluable tool for managing the many risks involved in bringing stories to life.
By adopting film insurance practices, filmmakers in any market can protect their investments, create safer working environments, and approach productions with greater confidence.
Thank you for joining us in this edition of Wakacast Newsletter. Do you have any experience with film insurance or tips for other filmmakers on managing production risks?
Share your thoughts in the comments, and do not forget to pass this edition along to friends and colleagues in the industry. Thank you. Happy filming!
PS:
If you are a filmmaker (actor, cinematographer, editor, animator, designer, colorist, voice-artist, producer, director, writer, etc.) looking for production jobs, Wakacast is the best place to start.
No more running around offline and online to find the latest production updates. As a filmmaker, you can find productions jobs on the platform.
Share your audition announcements and casting calls the platform. Connect with thousands of actors in Nigeria & Africa with zero cost.
As a producer, hire cast and crew with ease. Let’s talk.
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