Insurance for Marketing and Media
A copyright claim, breach of confidentiality or breach of an image licence? We know your risks and have you covered.
What you need to know about insurance for marketing and media
What you need to know about insurance for marketing and media
Transcript: Insurance for Marketing and Advertising companies explained
Why are the risks faced by marketing and advertising companies unique?
The reason the risks faced by marketing companies and, and, ad agencies are different is that you’re responsible for IP, copyright, meeting tight deadlines, and ultimately growing your client’s business.
Rather than working on one-off jobs like many clients do, you’re working with a client over a long period of time, often 5 to 10 years, you could be working on a brand for, for, for 2 3 years at a time.
So, what that means is that if there is a mishap, the client relationship is king. So, you should be working with an insurer that that understands that dynamic. Um, so if there is a claim, it’s, it’s, not just about the, the, insurers defending you. In fact, it’s the opposite. It’s working with your client to resolve the matter, avoiding any expensive legal fights and minimizing the impact on the client’s business. Um, at the end of a mishap or a mistake or a claim, you effectively still want to retain the client.
What should you look out for when purchasing a professional indemnity insurance policy?
So rather than a traditional negligence policy, the policy that you buy should be what is known as full civil liability.
That means the policy should cover intellectual property, copyright, breach of license, um, breach of confidentiality in addition. Um a really important point with marketing companies is, is, the inclusion of what what’s known as rectification costs cover. So what that does is that it can rectify a mistake before your client even being aware of a mistake happening.
Uh so a good example of that is uh going to print on a, a broch, a brochure for example 10,000 copies. Um if you’ve noticed after the prints been run that there’s a mistake with the logo, the coloring, or, or, some other design mistake that you’ve made. If that’s likely to result in a claim by your client, the insurance will actually respond immediately and pay for the reprint costs. Um, so that’s a really important cover as it can effectively the insurance can work without your client even being aware of a mistake.
For more videos and information, please visit www.whinneyinsurance.co.uk.
What makes marketing and media risks unique?
We understand that your success relies on relationships. Rather than one-off jobs for clients, you are often engaged in long-term projects, working on a brand over a sustained period of time.
If there is a mishap, we’ll help you protect your client relationship. Our cover won’t just defend you against claims from clients or third parties, it’ll help you resolve a problem without an expensive legal fight, minimising the impact on your client and hopefully retaining the client relationship.
Sometimes you spot problems just in time, for instance you might help a client run a campaign and realise at the last minute you’ve used the wrong logo or colour. Our insurance includes rectification costs cover and will pay out for reasonable and necessary costs to rectify that error.
Surprisingly, many insurance policies for marketing companies won’t cover your key risks, like breach of licence, unintentional breach of a written contract or cover for your website’s content. Insurance wordings are complicated but we’ll help you understand the small print and point out if insurance is missing the cover you need.
Who we work with
- Advertising and/or ad agencies
- Social media consultancy
- Digital marketing
- Consultants in marketing, branding and corporate ID
- Sales promotion
- Direct marketing
- Graphic design
- Market research
- Public relations
- Telemarketing
- Media buying
- Multimedia consultancy
- Content creation for TV/cinema adverts
- Content creation for print press/poster adverts
- Database management and list broking
- Commercial film production
Transcript: Insurance for Marketing and Advertising companies explained
Why are the risks faced by marketing and advertising companies unique?
The reason the risks faced by marketing companies and, and, ad agencies are different is that you’re responsible for IP, copyright, meeting tight deadlines, and ultimately growing your client’s business.
Rather than working on one-off jobs like many clients do, you’re working with a client over a long period of time, often 5 to 10 years, you could be working on a brand for, for, for 2 3 years at a time.
So, what that means is that if there is a mishap, the client relationship is king. So, you should be working with an insurer that that understands that dynamic. Um, so if there is a claim, it’s, it’s, not just about the, the, insurers defending you. In fact, it’s the opposite. It’s working with your client to resolve the matter, avoiding any expensive legal fights and minimizing the impact on the client’s business. Um, at the end of a mishap or a mistake or a claim, you effectively still want to retain the client.
What should you look out for when purchasing a professional indemnity insurance policy?
So rather than a traditional negligence policy, the policy that you buy should be what is known as full civil liability.
That means the policy should cover intellectual property, copyright, breach of license, um, breach of confidentiality in addition. Um a really important point with marketing companies is, is, the inclusion of what what’s known as rectification costs cover. So what that does is that it can rectify a mistake before your client even being aware of a mistake happening.
Uh so a good example of that is uh going to print on a, a broch, a brochure for example 10,000 copies. Um if you’ve noticed after the prints been run that there’s a mistake with the logo, the coloring, or, or, some other design mistake that you’ve made. If that’s likely to result in a claim by your client, the insurance will actually respond immediately and pay for the reprint costs. Um, so that’s a really important cover as it can effectively the insurance can work without your client even being aware of a mistake.
For more videos and information, please visit www.whinneyinsurance.co.uk.
Frequently Asked Questions
We know you’ll have questions about your insurance. If you don’t find the answers you need in our FAQs, call our dedicated team of expert advisers.
Marketing and Media
You work with clients on their brand and media presence in a fast-paced environment where publicity, good or bad, can go viral. You need insurance that protects and defends you because it’s easy for allegations to be made when things go wrong.
Our business insurance provides a legal defence for your business and helps cover the costs of putting things right, if you are liable.
The right insurance will protect your business, its reputation and balance sheet.
You’ll need a tailored package that includes:
- Professional indemnity insurance – We suggest you to have professional indemnity. This covers you for allegations of mistakes and provides compensation where you are liable due to professional negligence. It usually covers associated defence or legal costs too which is vital when you are working with companies bigger, and more able to litigate, than yours. It will cover you for claims from clients and third parties.
- Cyber insurance – Cyber criminals are acutely aware that marketing and media companies have access to sensitive commercial data which they can exploit. You’ll need cover if they gain access to your systems.
- Public and product liability – This covers physical injury and damage and can be added to packages at a low cost.
- Employers’ liability – This will protect you from legal costs should an employee sustain a bodily injury in the course of their employment. If you have any employees it is compulsory in the UK to have employers’ liability and it can be added to packages at a low cost.
- Computers, laptops and office equipment – We advise insuring your IT equipment from theft and destruction and can offer cover for portable IT on a worldwide basis.
- Directors’ and officers’ insurance – This covers claims against directors or senior managers made in a personal capacity and is especially relevant if you have external investors who could hold company directors liable for failures or missed targets.
- If you have American or Canadian clients or contracts, they will probably be excluded and some insurers will restrict cover to UK claims only. However, policies can be extended to include USA and Canada protection for an additional premium.
- If you are involved with advertising production, some policies will exclude work away for the office unless you buy an extension.
- Most media policies will exclude any claims related to patents. We can explore additional coverage if you need it.
- Some insurers will apply a retro-active date, which means complaints or claims related to work prior to that date are excluded.
- Deliberate acts, dishonest or fraudulent acts are usually excluded unless committed by an employee without the knowledge of senior management.
- Disputes which are purely commercial in nature and not linked to your supply or service provision, such as a commercial dispute with a supplier, may be excluded. Disputes with clients are usually covered, especially if they allege your business has been negligent or breached a contract.
Professional indemnity covers you for allegations of mistakes and negligence.
It provides compensation to your client (or a third-party) in circumstances where you are liable due to professional negligence, and usually covers associated defence or legal costs.
A tailored professional indemnity package should include extensions important for creative professionals such as breaches of infringement of intellectual property rights including copyright infringement, or any misappropriation of musical compositions, graphic material, or artwork.
elements that can be included in your Marketing and Media Insurance package
Professional indemnity for Marketing and Media
Liability insurance for Marketing and Media
Public liability covers bodily injury or property damage caused by your media and marketing business. It is often purchased alongside employers’ liability, which protects from legal claims should an employee sustain a bodily injury in the course of their employment.
Employers’ liability is a legal requirement in the UK, and you should be aware you may be required to have employers’ liability in place to cover those who work with you temporarily, such as assistants and models.
Technical equipment insurance for Marketing and Media
Technical equipment insurance covers you for damage or theft of your office equipment and computers, plus portable technical equipment. Worldwide all risks coverage, including accidental damage and theft as standard on all policies.
Available on all types of media equipment. Unlike other providers we can also cover hired equipment in addition. Our policies always include cover for the hire fees whilst your equipment is being repaired or replaced.
