Maple Insurance & Risk (Maple) has inked a deal with the Independent Media Agencies of Australia (IMAA), a not-for-profit association for the independent media agency industry, to offer cover for its members.
The IMAA entered a group agreement with Maple to offer general insurance and risk services for its members, offering cover for professional negligence liabilities, cyber risk, fraud, and compliance issues, as reported by AdNews.
Maple managing director Adam Sulway said: “We are absolutely committed to levelling the playing field for independent agencies by reducing their costs and providing ‘big house’ insurance and risk solutions used by larger organisations.”
Maple is a corporate authorised representative of Insurance Advisernet, winner of the Authorized Representative Network of the Year award at last year’s Insurance Business Australia Awards.
“Insurance is a big cost for agencies, and this deal will make a significant difference to their bottom line while allowing them to operate more competitively in an ever-changing market,” said IMAA CEO Sam Buchanan, AdNews reported.
The agency association has previously looked to secure group deals. In 2021, the IMAA hailed a “world first” with its trade credit insurance group arrangement, which it said could save members up to 75%.
Buchanan, then managing director at the IMAA said at the time: “We uncovered through our IMAA Pulse Survey that members wanted to look for ways they can save money as a group on big-ticket items.
“One of the biggest expenses for independent media agencies is trade credit insurance, so for the last three months, we have explored a group deal for IMAA members.
Read more: How much does trade credit insurance cost?
“This is an absolute game-changer for us, and the industry and we are thrilled to be able to offer this important cost saving initiative to our members.”
The media agency association was established in February 2020, representing independent Australian businesses.
