Advertising agencies, now better known as marketing agencies, are increasingly taking on more and more complex tasks. For this reason, insurance for communication agencies is being adapted to better cover their risk areas. We take a look at this article.
Tasks performed by a Marketing Agency
In the past, 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:
- Branding and corporate identity strategy: branding, naming, logos and how to express your brand
- Design of websites, sales platforms and apps
- SEO and SEM positioning of these websites, creation and management of social networks, content writing and press releases.
- Development of videos and photographs that help to give visibility to clients.
The volume of services provided by Marketing and Communication Agencies is infinite.
Moreover, we must remember that, even if we subcontract several of these services, the agency is the one who responds to the client. This means that even if it is another professional who has made a mistake, I will also answer to the client, because I was the one who subcontracted it.
The protection that Communication Agencies require
For better or worse, we are human, and that means that sometimes we can make mistakes. In the specific case of agencies, mistakes can be derived from:
- Publish a campaign in the version prior to the version approved by the client.
- Breaching a client’s confidentiality, and publishing data that should not have been made public
- Erase information that the customer had sent us by mistake.
- Violate intellectual property rights when designing a logo or a campaign, either by using images or music from others
- Transmitting a virus to a customer
The casuistry is multiple and, at the same time, they are not so surrealistic as to think that it is very improbable that they will happen to us.
Insurance adapted to this activity
In view of this level of specialization and very specific protection, what are known as “segmented insurance policies” have emerged. These are policies totally adapted to the very specific functions performed by certain professionals.
Among these segmented policies are those in the marketing field: advertising and communication agencies, graphic designers, advertising and video production companies…
Of course, not all insurance companies have the capacity to offer these products. We work with companies that adapt their terms and conditions and coverages to this level.
And it is not easy to cover these liability insurances:
- Violations of contractual agreements (this is not given by practically any insurance company).
- Coverage on Spanish Data Protection Agency issues (optional guarantee, but so relevant after the May 2018 regulations).
- Confidentiality, intellectual property rights, among others.
This insurance is fully complementary to cyber insurance, which protects us against an attack that puts our information and that of our clients at risk, as well as possible extortions that we may suffer.
How to get the insurance my Agency needs?
To take out the insurance, the steps are very simple:
- Fill in a questionnaire: we will be asked about previous claims, invoicing, number of employees…
- Preparation of estimates: different sums insured and optional coverages will be assessed.
- Once all this information has been evaluated, the proposal has been approved and the direct debit has been signed, the insurance is contracted completely online.
PIB Group Iberia will help you find the peace of mind and the insurance that really protects your Marketing Agency against these risks. Do not hesitate and contact us.
