“Gamechanger”: IMAA Secures Group Deal On Trade Credit Insurance For Members

“Gamechanger”: IMAA Secures Group Deal On Trade Credit Insurance For Members
B&T Magazine
Edited by B&T Magazine



The Independent Media Agencies of Australia (IMAA) today announced what it described as a win for its members, after negotiating a “world-first” trade credit insurance group deal.

The group deal, successfully brokered by the IMAA, will see its members save up to 75 per cent on trade credit insurance, in some cases.

According to the IMAA, trade credit insurance protects agencies from bad debts including unpaid invoices caused by client bankruptcy and receivership, default, political risks, and other reasons.

The policy is usually commensurate with the value of advertising spend and the payment terms agreed with each client. Although rarely used, it is one of the highest costs for independent media agencies, the association said.

“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,” IMAA general manager Sam Buchanan said.

“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.

“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 IMAA held a webinar for members this week, hosted by Buchanan, IMAA chairman and Sandbox media director Ant Colreavy and a trade credit insurance specialist to explain the group deal, which was reportedly received “enthusiastically” by members.

“Many independent agencies were impacted during the COVID-19 pandemic, which saw some trade credit insurers effectively penalise Australian-owned businesses as they ‘de-risked’ themselves,” Colreavy said.

“Limiting the amount of trade credit meant that agencies were left with no other option than to ask their clients for cash upfront or carry the exposure themselves.  This new group deal is a massive win for IMAA members and one which will make us all sleep better at night.”

Further information is available at: https://www.theimaa.com.au/




Please login with linkedin to comment

imaa Independent Media Agencies of Australia

Latest News

Sydney Comedy Festival: Taking The City & Social Media By Storm
  • Media

Sydney Comedy Festival: Taking The City & Social Media By Storm

Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]

Global Marketers Descend For AANA’s RESET For Growth
  • Advertising

Global Marketers Descend For AANA’s RESET For Growth

The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA  Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]