Media and marketing professionals benefit from PI insurance

Business insurance experts have recently stated that media or marketing professionals that provide advice to clients can possibly benefit from deciding to take up a professional indemnity insurance policy.

As a specialised professional liability insurance cover, professional indemnity can provide protection in the event that a client makes a claim against a firm in regards to an alleged mistake made during work for that particular client.

Proper levels of cover will provide protection from client claims.  In the media and marketing world, even a small error can lead to costly consequences; accidentally using a trademarked image or leaving a typographical error in the wrong place in marketing materials without realising you’ve done so can cause damage to a client’s reputation.

Most typical policies will cover a professional firm against several different claims.  Many of the more common claims are negligence, which is an alleged failure in duty of care by either providing incorrect advice to a client or making a costly mistake; infringement of intellectual property, which is the accidental use of copyrighted or trademarked materials in a marketing campaign for a client; and damaged or lost documents, which is when client work entrusted to the professional is damaged in their care, which can result to damage or loss to sensitive information or proprietary data.

Industry experts recommend that marketing and media professionals interested in the purchase of a professional indemnity insurance policy could consider the level of cover they will need before going forward.  It is highly important to take out cover adequate for the kind of work your firm conducts, and many clients or agencies will refuse to do business with a professional firm unless it has secured such cover.  Purchased on a yearly basis, professional indemnity cover can be secured from as little as £100,000 to several million pounds.

© 2017 All rights reserved. Reproduction in whole or in part without permission is prohibited. See our copyright notice.

Tags: , ,