The field of insurance is constantly adapting to the new needs of society and, without a doubt, insurance for influencers is one of the clearest examples.
This newly created policy has recently arrived in Spain with the aim of protecting these opinion leaders against the possible risks they face in their daily lives. At PIB Group Iberia we wanted to be pioneers in offering this tailor-made product, which makes use of the classical services of the Professional Liability policies and Cybersecurity, to develop special insurance for content creators across the country.
According to the IAB Social Media Study, 85% of internet users aged 16-70 use these platforms, which represents around 27 million people in Spain. Who hasn't heard of Twitch, where many content creators are, as well as Youtube, Instagram, etc.?.
Given this growth in recent years, new products such as influencer insurance make sense.
Although influencer insurance is a new response to a new profession, Professional Liability insurance has a long history in the insurance market.
protecting professionals in closely related fields, such as photography, IT, communication or digital marketing.
What is influencer insurance?
Influencer insurance is a policy for public figures and content creators on social media and high-profile platforms, which aims to protect them from potential risks arising from their activity: from privacy crimes and intellectual property infringements to protection against breach of contract or response to a cyber-attack or unauthorised access to accounts.
It is an innovation in the insurance market, specifically designed to protect the activity of content creators in order to protect their income and assets, and to have a defence in the event of a claim.
What does influencer insurance protect you from?
As with other policies, the degree of protection will depend on the insurer and the level of protection the insured wishes to take out. But, broadly speaking, insurance for influencers and instagramers provides solutions
professional insurance (errors on a job, unintentional breach of contract or of regulations, etc.), together with
cyber-insurance protection (technological fraud, data recovery costs, etc.).
Given the particularities of an influencer's work, these insurances also include features such as unauthorised access to social networks or defamation in the digital environment.
Influencer insurance coverages
This is a summary of some of the coverage offered by influencer insurance:
Breach of contract leading to a claim.
Negligence or non-compliance in work for a client.
Infringements related to intellectual property
Defamation in digital media or social networks
Unauthorised access to accounts
Fraudulent use of digital identity
Cybersecurity incident response
And some other coverage, including legal defence, which is key in the event of a claim against the person who created the content.
Who is influencer insurance for?
Influencer insurance is designed for professionals who earn a living or obtain part of their income from their work as influencers on social networks, through sponsorships, collaborations with brands, monetisation of their channel or any other formula. In some cases, it is also recommended for public figures who, although they do not work professionally, are characterised by openly expressing their opinions and are opinion leaders with a significant number of followers on social networks. platforms such as Instagram, TikTok, Twitch or YouTube.
If you want to work with peace of mind knowing that an insurance policy will protect you against the most common unforeseen events in your work as an influencer, contact PIB Group Iberia and we will study your specific case!
