Why do marketing and media professionals need insurance?
Unhappy clients
Despite careful research, you cited inaccurate information in a content marketing campaign for your client. A customer following them on social media spotted the error and the resulting post about the mistake went viral, damaging their reputation. One of your agency employees misinterpreted an advertising brief for another client, meaning the project has to go back to the storyboard stage, significantly delaying the brand’s timeline. If you find yourself facing a claim of negligence, cover with professional indemnity insurance built in can help to cover the cost.
Copyright infringement
You create and launch a multi-channel campaign for your client. Unfortunately, the copyright for the campaign’s hashtag and tagline is owned by another company and a claim has been brought against your client. Your business routinely carries out checks, but the industry is fast-paced and on this occasion, you were confident it was an original idea. Should your client decide to bring their own claim against you, professional indemnity cover helps to cover the cost of defending or settling it.
Data breaches
A brand you’re working with has granted you access to their website to upload optimised functional and blog content. While you’re working through your list of pages, you experience a cyber-attack, affecting not only your machine, but also the client’s website. On another occasion, your employee accidentally sends a promotional email to the wrong mailing list, resulting in a serious breach of data. Our cyber and data risks insurance covers you in the event of data breaches and cyber-attacks, keeping the cost of any damage to your business and clients to a minimum.
What cover is included in insurance for marketing and media?
Professional indemnity insurance
Sometimes mistakes happen – no matter how much you commit to creating quality work on brief and on time. Working with clients can be tricky as a breakdown in communication could result in legal action being taken against you. You might create an infographic containing an error, accidentally breach the terms of your contract or mistakenly share confidential information via email. With professional indemnity insurance, we’ll help to cover legal costs so you can get back to normal as quickly as possible.
Employers' liability insurance
In the marketing and media business, talent is an asset. When you employ staff, they bring value – and you take on some responsibility for their welfare in turn. If a spillage in the staff kitchen causes one of your employees to slip, then they could make a claim against your business. Similarly, a former employee may claim their chronic repetitive strain injury is due to their agency’s failure to provide an ergonomic workstation. Employers’ liability insurance covers legal fees and compensation – having a policy is sometimes a legal requirement.
Public liability insurance
Anyone can make a liability claim against you if they feel they were injured, or their property damaged because of your business operations. A visitor might slip on a wet floor in your building’s foyer and sprain their wrist, or you could break a client’s expensive projector during a pitch. Whatever the nature of the claim, if you come into contact with the public, you might want to consider public liability insurance. A policy can help to cover the cost of defending or settling a legal battle.
Build a policy to help safeguard your business, whether you have a team of marketing consultants or run an advertising agency. Tailor a policy to include everything from office insurance and personal accident insurance to equipment cover and cyber and data insurance.
These are just some of the types of business insurance for marketing and media businesses that we can offer. We can provide other specific types of cover and build them into a policy that’s tailored to the exact needs of your business.
Get your quoteInsurance for marketing and media companies: FAQs
Which marketing professions do Hiscox cover?
At Hiscox, we cover a range of professions within the industry. These include media, brand, social media and marketing consultants, PR officers, SEO and graphic design professionals, plus digital marketing and advertising agencies.
Professions within the marketing industry have varying risk levels and differing responsibilities. Get in touch with our experts online today to discover whether your marketing profession is covered by Hiscox and we can work together to tailor a policy for you.
Does Hiscox professional indemnity insurance provide proof of cover?
At Hiscox, we understand you work in an industry dealing with contracts and clients requiring certain things from you – that’s why we provide a proof of cover document to all policy holders after they purchase Hiscox insurance, including professional indemnity insurance.
This is because, as a marketing professional, you might come across clients that request a proof of cover document before signing a contract. Sometimes this can be a non-negotiable requirement for agencies, clients and other parties before they agree to start working with you.
How much cover should I get?
All marketing businesses are different. The size of your clients and nature of the work you undertake will differ to companies in a similar line of work. Therefore, the level of cover you require will depend on your circumstances.
In addition to proof of cover, some clients or industry bodies might require you have a certain level of cover, so it could prove productive to investigate this when seeking insurance products for your small business. It may also be helpful to consider the financial implications of a claim and then work with Hiscox to build the ideal insurance package for you to safeguard against this.
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