Chartered insurance broker Verlingue Ltd has established a dedicated media practice under plans to expand its presence in the independent media sector.
The team, headed up by Maia Olesen and Michael Treasure, client directors, 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. Verlingue employs over 170 people in its nationwide network of offices, inclusing its Northern hub in Manchester.
Olesen said: “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 bill boards, newspapers, tv and radio.
Oleson went on to note that the risks and complexity faced by media businesses are increasing, with complex contracts, daring film shoots and events and a growing maze around permissions, licenses and permits for the use of music and images, along with increased propensity for legal action if these are not in order.
She added that regulators and overseeing authorities are now coming down harder on influencers, increasing the need for expert guidance and support when promoting products, particularly when it comes to products targeting children.
Group CEO Mike Latham 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. 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.”
Verlingue is sponsoring the Prolific North Independent Agencies to Watch list later this year.