Insurance for Public Relations
A missed deadline or press release gone wrong? We know your risks and have you covered.
What you need to know about insurance for public relations
What you need to know about insurance for public relations
As a partner business of Williamson Carson, insurers to the creative industries, we know the media inside out and the associated risks.
You can be confident that all our media insurance covers are tailored for the industry and to your unique requirements.
We know that insurance for public relations consultants and freelancers can be complicated. If any advice or work you have provided to a client causes a data, reputational or financial loss, they or an affected third party could take legal action. Any loss or damage can have a significant impact on your earnings and reputation. Contractually you may be required by your client to have insurance too.
Our public relations insurance is tailored to you. At competitive prices, we only use specialist insurers that understand the public relations industry and offer insurance packages with comprehensive protection not available anywhere else. From professional indemnity to public liability, we can also arrange extensions such as rectification costs cover which will help you rectify any mistakes you may make before your client becomes aware.
Transcript: Insurance for PR Companies Explained
Why should PR Companies consider PI Insurance?
Firstly, it’s probably best to explain what Professional Indemnity insurance is
Professional indemnity insurance covers your mistakes or allegations of negligence. As a PR company, you’re responsible for managing a client’s image and their reputation. If thing if things go wrong, PI insurance or professional indemnity is there to cover you for those mistakes.
As you know, as a PR company, it can take years to build a brand, but minutes to destroy a brand. There’s hazards with being a PR company and being responsible for brands. The PI there, PI insurance is there to protect you if things go wrong.
PI claims examples for PR Companies
So, as you know, as a PR company, for every 10 PR success stories, there’s a PR blunder. Some of the things that could go wrong are crisis mismanagement, releasing a press release at the wrong time, or releasing the wrong press release, or potentially releasing confidential information, especially if that information could affect a a client’s share price.
If something goes wrong, you look for two things, rectification and retention. You want to obviously retain your client, but at the same time, you want to quickly rectify the mistake. The insurance we sell includes rectification costs cover. So, if here is a mistake that is likely to lead to a claim, the insurance may respond immediately in order to rectify that mistake. If the worst comes to the worst and the client makes an allegation that you have caused them to lose money, the PI policy will also respond and defend you against those allegations.
For more videos and information, please visit www.whinneyinsurance.co.uk.
Our Public Relations Packages
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.
Public Relations
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 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 advertising agencies 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 Public Relations Insurance package
Professional indemnity for public relations
Liability insurance for public relations
Public liability covers bodily injury or property damage caused by your public relations 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 public relations
