Influencer marketing platform Tailify has joined forces with London-based insurance market Lloyd's in order to create a form of insurance specifically for influencers.

As more and more businesses leap into the space, influencers are finding themselves without any kind of legal protection in the midst of poor dealings and contracts. Lloyd's Coverholder, Assured Social, and Tailify have worked collaboratively to further solidify trust and reliability within the ever-expanding influencer marketing realm.

As reported by The Drum, Assured Social can provide influencers with bespoke insurance plans designed for their needs, with a lower premium than a traditional 'public figure' would pay. The policies are available to everyone, not just influencers working with Tailify, and start at £120 for £100k of coverage.

Professional and transparent

“We’re focused on building the most trusted, professional and transparent influencer platform in the market. Protecting both our influencers and advertisers is key to that ethos," said Tailify chief executive Fredrik Segerby.

“Although top influencers have tremendous reach and impact, they’re not legally required to be insured in the way that traditional businesses are. It leaves them open to being sued if contract obligations aren’t met, even due to an innocent mistake or misunderstanding.

Even if they win in court, the legal battle can ruin them financially. Assured Social provides peace of mind for influencers, and confidence for advertisers.”

Chairman and CEO of Assured Social, Ben Gallop, added: “after examining the insurance needs of a social media industry, we are delighted to be working with Beazley to provide our unique coverage,"

“Partnering with Tailify is a great springboard to raise awareness of the threats – both financial and reputational – that currently face social media influencers. We are delighted to play a small part in helping to professionalise this rapidly growing industry, both here in the UK and in the United States.”