The word from Yutree, as they look ahead to BIBA Conference coming up in May, with a new partnership agreed with AXA;
After successfully helping brokers and their media and entertainment clients to navigate through the challenges of the past 12 years, including the unprecedented disruptions caused by the pandemic, Yutree is now shifting its focus to address the escalating issue of underinsurance that is prevalent across the UK.
A combination of supply chain disruptions, inflationary pressures and rising labour and equipment costs has exacerbated the problem of underinsurance, making it more critical than ever to take proactive measures. In response, Yutree has taken decisive action by forging a strategic partnership with AXA Insurance to enhance insurance coverage for its media and entertainment clients under its BIBA endorsed scheme.
“We are absolutely delighted to partner with Yutree in this specialty trade segment where they have a great deal of expertise and experience. This adds to our stable of AXA Scheme Specialist products that will help brokers get easier access to quality capacity in specialty lines.” – Gary Head, Director Schemes & Delegated Authorities, AXA
As part of this partnership, Yutree has doubled the limits it can write for media and entertainment clients under the scheme. This move aims to ensure that the insurance coverage remains robust and adaptable to the evolving needs of the sector, including accommodating index-linking and organic growth.
Laura Hancock, Managing Director at Yutree emphasised the significance of this partnership, stating:
“This new partnership with AXA will enable us to continue to support brokers and their media and entertainment clients with specialist cover, competitive rating and limits that will not restrict us in the UK market. We are very grateful to AXA and excited for the future of this collaboration, and for what it will bring to the media and entertainment sector”.
Yutree Underwriting boasts a longstanding specialism in the media and entertainment sector, offering a tailored scheme to brokers to assist them in servicing the needs of their clients in that sector. Yutree are the approved broker for the Professional Lighting & Sound Association (PLASA) and the British Interactive Media Association (BIMA).
Simon Miller, Commercial Director at Yutree, holds the relationships with BIMA and PLASA and commented:
“Being endorsed by BIBA, and being officially partnered with PLASA and BIMA, puts Yutree firmly on the map in terms of media and entertainment insurance. This collaboration with AXA really cements that status for the future. We are excited to work with more brokers to grow this specialism, backed by a strong brand such as AXA”.
Yutree were instrumental in supporting BIBA with their work with government during the pandemic. This culminated in the Government’s Film and TV Production Restart Scheme. The recent collaboration between Yutree and AXA marks a significant step forward in addressing underinsurance challenges in the UK media and entertainment industry, reaffirming Yutree’s ongoing commitment to driving real change to support their brokers and clients.
“BIBA partner with Yutree for media and entertainment insurance because we recognise the depth of Yutree’s specialism in this area. Our members can confidently target and advise clients in this sector with Yutree providing full support and capacity alongside them.” – Graeme Trudgill, CEO, BIBA.
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