Verlingue Ltd., the UK chartered insurance broker, has established a dedicated media practice under plans to expand its presence in the fast-growing independent media sector.
The team, headed up by Maia Olesen, client director, will focus on independent advertising agencies and production companies, as well as associated event, post-production, music, editing, marketing, digital planning and public relations businesses. Coverage provided typically includes professional indemnity, cyber liability, employers and public liability, along with more specialist covers such as cancellation and contingency.
The move fits in with Verlingue’s overall strategy to provide total solutions for mid to large corporates across a range of specialist sectors, encompassing general insurance, trade credit, employee benefits, risk management and claims services and solutions.
The media practice will be based in Redhill, England, part of Verlingue’s growing network of offices which include Manchester, Egham and London, employing over 170 employees.
“Media is a growing market, and one that has proved over the years to be fairly recession proof as marketing remains central to most brands growth strategies despite economic uncertainty. The sector is also constantly evolving and expanding into new digital areas – and has moved on from the days when it was just billboards, newspapers, tv and radio,” commented Olesen..
“The risks and complexity that media businesses face are also increasing, with complex contracts from large corporations and ever more daring film shoots and events. There is also a growing maze around permissions, licenses and permits for the use of music and images, and an increased propensity for legal action if these are not in order,” Olesen continued.
“Regulators and overseeing authorities are also coming down harder on influencers highlighting the need for expert guidance and support when promoting products. The onus on influencers responsibilities, as they have real power to influence purchasing behaviour, is only going to increase, particularly when it comes to products targeting children,” she said.
“Expanding our presence in the growing media sector is a key part of our growth strategy and Maia and her team have over 35 years of experience in this specialist market,” said Verlingue’s Group CEO Mike Latham.
“Our focus on this sector will mirror that of all the sectors where we have a strong presence, and that is to provide our clients with holistic risk management advice, to develop targeted and relevant insurance cover, and to deliver a high quality, personal and tailored service,” added Latham.
“This is an important development for us and will establish Verlingue as a leading broker in this space.”
Verlingue Ltd. is a subsidiary of Quimper, France-based Verlingue, one of Europe’s largest independent insurance brokers.
Source: Verlingue Ltd.
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