Scale Underwriting Services LLC, an executive agent and a Founder Shield company, has launched media responsibility coverage for social media and their agencies with up to $ 5 million in available limits.
Coverage is supported by the special insurer Beazley PLC.
Scale Social covers US-based influences and agencies, especially those with paid brand partnerships, from potential lawsuits involving their social media activities, the New York-based MGA said in a statement Monday.
The online policy covers influencers' advertising, publishing and regulatory exposure.
Coverage also extends to influencers who market goods without a direct agreement with a trademark if a party claims there was negligent or distasteful marketing.
Crisis management costs can also be covered under
"The emergence of TikTok and other digital content platforms requires the insurance industry to think differently," Christine McCarty, insurer at Scale, said in the statement.
The marketing industry is expected to grow to $ 1
"As the power and value of the influencer industry increases, so does the scale of economic and reputational risk," said Claire Templeton, Beazley's media cartoonist. Catalog