Why is Insurance for Influencers Important?
Your engagement by an agency or a brand requires you to have insurance and your regular insurance may not cover you. If you already buy insurance, it likely excludes coverage for product-related liability, defamation and “media activities.” You’ll have trouble growing your social media facing business without it. You don’t have to buy separate policies for each campaign. One policy, keyed to # of followers, protects you 365/24
You could get sued
Even if you’re just expressing your opinion about something, and you believe what you are saying is true, that doesn’t prevent lawsuits. If your content is viewed by hundreds of thousands or more, it’s probable that (1) people will NOT agree with everything you say and (2) opponents and negatives can react to your posts by claiming you’ve stolen their ideas, you’ve disparaged or defamed them or their business or products.
Agencies & Brand Risks
Agencies and Talent Managers Need it too
Agencies carrying this insurance get extra protection where there ordinary insurance might have gaps Our product protects you, your agency and can also be extended to cover the influencers you use on campaigns This gives you an advantage over other agencies since you’re coming to a project already with the insurance your client or customer will demand.
Brands Should Demand it
In litigation, the deepest pockets are always sued Your contracts usually require that your brand gets protection from your getting dragged into litigation (over intellectual property matters, defamation…) The contractual promise that an influencer will defend your brand in litigation may not be enough. Plaintiffs will still want to go after the brand. Make sure your agencies and the influencers you use have adequate insurance that includes providing a defense to your brand if the claim arises from the influencer campaign.