Influencers Under Pressure: Brands Push for Insurance on TikTok and YouTube

Brands that contract with influencers on platforms like TikTok, Instagram, and YouTube are increasingly requiring these social media personalities to purchase liability insurance to protect the brands they promote. While top-tier influencers with high incomes can afford the premiums, it may not be financially feasible for smaller influencers. Annual premiums for a $1 million liability insurance policy can range from $2,000 to $30,000. The insurance coverage is adapted from policies held by film studios and big advertising companies and typically covers attorney fees and claims arising from content creations. The global influencer market is projected to reach $21.1 billion this year.