Advertising agencies, now better known as marketing agencies, are increasingly taking on more and more complex tasks. As a result, the insurance of communication agencies adapt, to better cover their sources of risk. We look at it in this article.
Tasks performed by a Marketing Agency
In the old days, an advertising agency could basically help you create a campaign in traditional media: press, radio and/or TV, as well as design the logo and what we know today as “branding”.
Today, this has been taken much further, and the service consumed is much more demanding:
- Brand strategy and corporate identity: creating branding, naming, logos and how to express your brand
- Web design, sales platforms and apps
- SEO and SEM positioning of these websites, creation and management of social networks, content writing and press releases.
- Video and photo production that help to give visibility to customers
The volume of services of Marketing and Communication Agencies is infinite.
In addition, we must remember that, although we subcontract several of these services, it is the agency that is accountable to the client. This means that even if it is another professional who has made a mistake, I will also be accountable to the client, because I was the one who subcontracted it.
The protection needed for Communication Agencies
For better or for worse, we are human, and that means that sometimes we can make mistakes. In the specific case of agencies, mistakes can result from:
- Publish a campaign in the previous version to that approved by the customer
- Breach of confidentiality of a client, and publish data that should not see the light of day.
- Delete information by mistake that the client had sent us
- Infringement of intellectual property rights when designing a logo or a campaign, either by using images or music from others
- Transmitting a virus to a client
The The casuistry is manifold and, at the same time, they are not so surreal that they are so unlikely to happen to us.
Insurance tailored to this activity
Faced with this level of specialisation and very specific protection, what are known as “segmented insurance policies” have emerged. These are policies that are fully adapted to the very specific functions performed by certain professionals.
Among these segmented policies are those in the marketing field: advertising and communications agencies, graphic designers, commercial and video production companies...
Of course, not all insurers have the capacity to offer these products. We work with companies that adapt their conditions and hedging at this level.
It is not easy to cover these liability insurances:
- Breaches of contractual agreements (this is not given by practically any insurance company).
- Coverage of Spanish Agency issues Data Protection (optional guarantee, but so relevant after the May 2018 regulation).
- Confidentiality, intellectual property rights among others.
This insurance is fully complementary to cyber insurance, This protects us against an attack that puts our information and that of our clients at risk, as well as any possible extortion that we may suffer.
How do I get the insurance my Agency needs?
To take out the insurance, the steps are very simple:
- Fill in a questionnaireThe list will ask about previous claims, invoicing, number of employees...
- Elaboration of budgetsdifferent sums insured and optional cover will be assessed
- Once all of this information has been assessed, with the OK to the proposal and signed direct debit, the insurance is taken out entirely online.
From PIB Group Iberia we will help you find the peace of mind and the insurance that really protects your Marketing Agency against these risks. Don't hesitate and contact us.
