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    IMAA prepares for more member deals following success of insurance deal

    Independent Media Agencies of Australia (IMAA) has marked the success of its trade credit insurance group deal, which offers industry-best insurance rates, as it prepares to launch additional deals for members in May.

    The next phase of the industry body’s group deals will take its total member deals to 60, including savings on industry reporting tools, HR, management, data, and out-of-home verification.

    The trade credit insurance deal, introduced in 2021, protects independent media agencies from bad debts. Since the program’s inception, more than 40 agencies have signed up, offering the cheapest insurance rates industry-wide.

    Under the agreement, IMAA members currently save up to 78% on their trade credit insurance policies, with an industry-best rate and an excess of $2,500.

    The IMAA now offers a variety of heavily reduced insurance policies for members, including professional indemnity, cyber insurance, directors and management liability, public and product liability, property damage and loss of revenue/profits, and corporate travel. 

    Sam Buchanan, CEO of IMAA, said the trade credit insurance group deal has fundamentally changed the credit insurance landscape. He noted that the deal has made it an even playing field for Australian independent media agencies and saved them thousands in insurance every year.

    “Since its 2021 inception, the deal has gone from strength-to-strength – not only does it now offer the cheapest industry rates for IMAA members, but it has also driven down insurance rates across the broader media industry.
     
    “It’s an astonishing result in just three years, particularly in the current business environment. Insurance is a hefty ongoing cost for agencies but it’s a critical part of business – this program has made a huge difference to agencies’ budgets and given them peace-of-mind as they operate in an ever-changing world.”

    Top image: Sam Buchanan

    The post IMAA prepares for more member deals following success of insurance deal appeared first on Mediaweek.

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