Here at Yutree, we look after a number of digital marketing companies and regularly see claims and potential claims from contractual issues or, with increasing frequency, incidents linked to hackers or IT exposures. Whether you specialise in SEO, PPC, social media management, website design or email marketing there are a couple of key insurance covers to consider in addition to your basic property and employers/public liability policy.
Here’s our view on these important coverages for Digital Marketing Agencies to consider:
For digital agencies, this policy is all about cover for those mistakes that unfortunately can happen. Despite coming up with creative content and working to time on a brief, things can break down with clients and you may face legal action of some kind. Typical claim scenarios include:
- A campaign’s hashtag is owned or used by another company resulting in a claim against your client
- Projected sales figures don’t meet client expectations after an SEO campaign
- Someone within your company breaches a contract by accidently sharing a client’s confidential information
- Content you have created may contain an error requiring expensive correction
Together with placing the correct cover to appropriate limits, we’ll work with you to ensure client contracts and NDA’s don’t commit you to liabilities outside your insurance coverage and also ensure that your insurers are aware of overseas contracts that don’t fall under UK law as this needs to be reflected in the policy.
Arguably the key area of cover now for digital marketing agencies, particularly where you are handling large amounts of your client’s end customer personal data or accessing their websites to upload content or product images and the like. The cover can protect you from a broad range of incidents including:
- Hackers access and lockdown your IT system (cover here for loss of revenue and the costs to recover lost data)
- An employee leaves a laptop on a train which contains a promotional mailing list, resulting in a serious breach of data – insurers pick up the costs of notifying those affected and the efforts to recover the lost data
- E-theft – hackers target your finance team by posing as senior officers of the company in an attempt to process fraudulent bank transfers
- Whilst uploading images to a client’s website, you experience a cyber-attack, affecting not only your IT but also your client’s website.
Note: Decent levels of IT security are of course essential, but UK insurers are now expecting companies to have multi-factor authentication (MFA) in place before they provide any cyber cover.
Please don’t hesitate to contact Simon Miller or call 01638 675993 to discuss either of the above covers. Alternatively let us know when your insurance policy falls due for renewal and we will get in touch nearer the time.