Specialist reinsurance marketplace Lloyd’s broker La Playa has rolled out its latest professional indemnity insurance package for social media influencers.
Also known as social media insurance coverage, the insurance plan has been developed by insurance e-trading specialist Quotall.
Underwritten by British specialist re/insurer Beazley, the insurance plan offers protection to social media influencers against legal claims for error, omissions and professional neglect.
Quotall CEO Simon Ball said: “Social media influencers are a totally new type of customer and they are now seen as being a vital component whereby brands can effectively market their products.
“Like any profession they need insurance to cover potential liabilities and, up until now, have had no option but to buy policies that didn’t specifically cater for their unique risk exposure.”
La Playa director of media arts and entertainment business Tracey McCreath stated: “We are excited to have launched our Social Influencers product on the Quotall platform as it enables us to distribute the product online to this flourishing, digitally savvy market.”
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McCreath further said that using Quotall system, La Playa can access and control its social media insurance coverage round the clock.
The company is also planning to launch the plan in other markets including the US.
The social media insurance coverage is available at a premium of £120 for coverage of £100,000.