The Independent Media Agencies of Australia (IMAA) is marking the third anniversary of its trade credit insurance group deal, which has been adopted by more than 40 agencies since the deal was introduced in 2021.

Designed to protect independent media agencies from bad debts, the IMAA claims that the program now offers the industry's 'cheapest' insurance rates. IMAA

"This program has evened the playing field for Australian independent media agencies, allowing them to save thousands of dollars on vital insurance every year. Since its 2021 inception, the deal has gone from strength-to-strength – not only does it now offer the cheapest industry rates for IMAA members, but it has also driven down insurance rates across the broader media industry," said IMAA CEO, Sam Buchanan. "It’s an astonishing result in just three years, particularly in the current business environment. Insurance is a hefty ongoing cost for agencies but it’s a critical part of business – this program has made a huge difference to agencies’ budgets and given them peace-of-mind as they operate in an ever-changing world."

Members of the IMAA are reportedly saving up to 78% on their trade credit insurance policies, with an industry-leading rate and an excess of $2,500. The IMAA provides a range of significantly reduced insurance policies for its members, including professional indemnity, cyber insurance, directors and management liability, public and product liability, property damage and loss of revenue/profits, and corporate travel.

The next phase of the IMAA's group deals for members is set to launch in May, taking the total number of member deals to 60. Currently, over 40 deals are available to the IMAA’s 160-plus members.

The IMAA was established in February 2020 as a national industry body representing Australia’s independent media agencies.