Scale Underwriting Launches Custom Influencer Media Liability Insurance
Scale Underwriting, a Founder Shield company that provides tailored insurance products for high-growth companies, announced the launch of Scale Social with the aim of providing social media influencers and their agencies with media liability insurance. Scale Social provides US-based influencers and agencies, particularly those with paid brand partnerships, an insurance policy designed to protect them […]
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Scale Underwriting, a Founder Shield company that provides tailored insurance products for high-growth companies, announced the launch of Scale Social with the aim of providing social media influencers and their agencies with media liability insurance.
Scale Social provides US-based influencers and agencies, particularly those with paid brand partnerships, an insurance policy designed to protect them from any potential lawsuits involving their social media activities. This insurance will also cover influencers who are promoting goods without a direct contract with a brand, in case a party asserts there was a negligent or unflattering promotion.
The insurance is provided 100 per cent online, with a quick and easy process, competitive rates, and response in less than four minutes to cover clients almost instantly. With the whole influencer marketing industry set to grow to $13.8 billion in 2021, an increase of 42 per cent from 2020, it’s imperative that influencers and their respective agencies prevent any potential liability arising from their operations.
“The emergence of TikTok and other digital content platforms requires the insurance industry to think differently and at the same pace that brands have adopted to reach audiences in new ways,” says Christine McCarthy, Underwriter at Scale.
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“Today’s influencer marketplace requires specialised protection. Scale Social was designed, built, and tested with those protections in mind. As brokers, we’re now able to offer our clients low-cost protection even for influencers whose income stream from internet activities hasn’t yet been fully realised,” adds Jonathan Selby, General Manager of Founder Shield.
Scale’s insurance is backed by Beazley, one of Lloyd’s of London’s largest specialist insurers. “As the power and value of the influencer industry rises, so does the scale of the financial and reputational risk,” says Claire Templeton, Media Underwriter at Beazley. “The challenge for influencers, platforms, and agencies is to professionalise at the same rapid pace and ensure they have the insurance protection in place to help manage their risks and potential claims against them effectively. Scale Social has been created to provide influencers with greater peace of mind and freedom to focus on expanding their impact and reach.”
