Marketing agencies have a range of risks relating to their premises, staff and customers alongside their statutory responsibilities. When comparing prices and quotes, make sure you take particular note of limits, excesses, exclusions and geographic coverage.
Insurances that a marketing SME may consider include:
Did you know that in 2020, a survey found that nearly half of businesses in the UK were hit by a cyber-attack in one year? Data plays a crucial role in the creative industry, from analysing results, managing research, implementing campaigns and running social accounts. Should a cyber-attack or data breach happen, cyber insurance can protect your business.
Employers’ liability insurance
As soon as any SME takes on staff, they are legally required to have employers’ liability insurance. This will cover the business if a member of staff sustains an injury or becomes ill as a result of working for your company and will protect you from any fines.
Office and equipment insurance
Many marketing SMEs have valuable equipment, from expensive filming tools to laptops and the software on them. All of this will need protecting, and office and equipment insurance can cover this.
Intellectual property insurance will protect you against any breaches of copyright or alleged claims of the misuse of information protected by others.
Professional indemnity insurance covers you in the event that you give inaccurate advice to clients. This is particularly important for marketing SMEs.
Health benefits and insurance
Not all SMEs provide their employees with private health cover, and employers are not required to offer it by law. However, there are many benefits to offering your employees comprehensive health cover.