Why do publishers need insurance?
Printing errors
You always trust your proof-readers to check work meticulously. So, when you receive a manuscript that’s been through your company’s editing process, you know it’s ready to send to print. When you receive the printed book back, however, it’s full of errors. Your client files a claim for negligence as a result. Including professional indemnity insurance in your publisher policy means you can get financial support to fix mistakes such as key messages not coming across or a business name spelt wrong.
Book fair accident
The marketing team within your business is always busy creating advertising and sales opportunities, so they jump at the chance to take a slot at a national book fair. Enthusiastic to showcase all your company’s most talented authors, your marketing assistant sets up a display. After the event starts, one of the roller banners collapses and injures an attendee. Public liability insurance can help shield a publisher against the cost of legal fees and resulting compensation if the attendee opts to claim.
Employee injury
One of your copy editors travels across the country meeting with journalists, writers and authors and regularly edits remotely to get the job done. This can result in working wherever they can, often not operating from an assessed desk space. Unfortunately, this causes multiple aches and pains and results in a case of RSI, plus sciatica for your employee. They decide to claim for damages. In this instance, your employers’ liability insurance can step in to help with paying for defence and settlement.
What insurance is available for publishers?
Professional indemnity insurance
Your company has a trusted professional standing – so you provide advice, set the commercial agenda and may have multiple titles and disciplines to juggle. Copy errors, missed deadlines, accidental intellectual property breaches and instances of defamation could come down hard on your business. For a publisher, business insurance with professional indemnity cover can work to safeguard against these problems. Hiscox PI insurance covers breach of contract as standard, which can provide reassurance. It can also help to rectify misprints negatively impacting clients and assist with defending and settling claims against you.
Public liability insurance
Your publishing office employ editors, proofreaders, designers, marketing teams and administrators and each team often welcomes people from external companies for meetings. You, your editors and marketers also head to external consultations and events whenever you can. Anyone outside your company can issue proceedings against you if they claim your work caused damage to their property or a personal injury. Public liability insurance can provide financial assistance for legal fees and resulting compensation payments.
Employers’ liability insurance
Whether you run a small publishing business or a larger company, you’re likely to have staff to keep things moving. From your designers to the proofreaders, you’re responsible for the workplace health and safety of your whole team. Employers’ liability insurance, which is required by law (external link) for most UK businesses with staff, could therefore be a key cover consideration for a publisher. So if an employee experiences an injury or work-related illness and decides to claim, this type of insurance can assist with legal costs and compensation pay outs.
A publisher may also choose to add other relevant covers to their policy, including cyber and data cover, legal protection insurance and personal accident insurance.
Tell us more about your publishing business to find out which covers might work best.
Get a quoteBusiness insurance for publishers: FAQs
Do self-published authors need insurance?
When authors take on the role of publisher, they may decide they need insurance as they’ll face similar risks to a publishing company.
You could need to take on an assistant to manage your designs or publicity as part of the project – if so, employers’ liability insurance could be necessary. You might also find portable equipment insurance can provide welcome support if your computer is damaged or stolen.
Public liability, cyber and data cover and personal accident insurance can also provide reassurance for solo work.
Do you need insurance to publish a book?
A book publisher may decide they need insurance for a variety of reasons. The world of publishing can involve many departments, from commissioning editors to administrators. When you employ staff to publish a book, you’ll likely need employers’ liability insurance by law.
Professional indemnity cover doesn’t just apply to the risk of mistakes in a book, either. The marketing team may launch ads with accidental IP infringements, for instance.
Book signings can also bring risk – if a member of the public became injured tripping over marketing materials left on the floor, liability cover could step in.
To understand what you might need, read this guide to types of business insurance.
How much professional indemnity insurance do I need?
How much professional indemnity insurance a publisher might need can depend on several factors. A key consideration may be that publishing no longer only applies to print – and digital reach can increase the likelihood and scale of claims.
The type of publications you work with will also be something to take into account. Niche subjects are likely to have smaller audiences than something with a higher profile.
The cost of a claim against your company for mistakes and infringements may therefore depend on both print and digital reach.
Calculating the cost of a worst-case scenario can assist with setting cover limits. Discover more about how much professional indemnity insurance you might need with our FAQ guide.
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