Social Media Influencer Insurance

Influencer insurance is a type of reputation risk management policy that offers protection explicitly to businesses and individuals in the public eye.

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Social Media Influencer Insurance, brought to you by All Media Insurance
What is Influencer Insurance?

Influencer insurance is a type of reputation risk management policy that offers protection explicitly to businesses and individuals in the public eye. A good influencer insurance policy will cover the media and contractual risks that come with public appearances as well as the content shared on your social media channels.

In the last few years, the unique risks posed to influencers have evolved significantly, from simply gaining ‘likes’, to opinion-based endorsement and the rise of ‘cancel culture.’ Crucially, more and more businesses are using influencer marketing as part of their media strategy so you may start to see an increase in paid opportunities, and in turn an increase in your own associated risks.  

As such, influencers across all industries should consider having protections to help them defend and navigate liability exposures and risks to reputation. 

Many Influencers have gained social media followers through their notoriety in a given niche or their celebrity status. This is often due to their success on the field, leading to further income via endorsement opportunities for sportspeople.

While you may not consider yourself a social media influencer as your main occupation, you may face many of the same risks.

Who is Social Media Influencer Insurance for? 

Influencer insurance is for anyone who creates and publishes content, whether through social media, YouTube videos or podcasts, as well as professionals in the public eye, such as TV broadcasters, sports personalities, or commentators. The policy covers many claim scenarios, which could have a significant financial impact.

Previously limited to high profile individuals such as politicians or celebrities, influencers can now be individuals with even the most modest of follower counts, especially with the ability for content to go viral.

Why do I need Social Media Influencer Insurance?

The risks of being sued are substantial. Lawsuits are very expensive and have been the financial downfall of many professionals in the public eye in the past.

In 2018, model and influencer Luka Sabbat was sued for Breach of contract by PR consulting firm after signing an agreement to endorse Snapchat’s Snap Glasses. He received an advance payment of $45,000 to publish 1 static Instagram post and 3 Instagram stories of him wearing the product. All posts were to be pre-approved with detailed analytics provided 24 hours later. Instead, he posted 1 static post with no pre-approval.

The resulting claim from Snapchats PR company was for their $45,000 back, plus interest and ‘consequential and incidental damages’, as well as having him pay all the legal fees, causing him to settle out of court for $90,000. 

What does Social Media Influencer Insurance Cover? 

As a type of professional indemnity cover, social media influencer protection covers

Civil liabilities include;  

  • Unintentional Breach of contract
  • Negligence, by error or omission
  • Dishonestly of an employee
  • Defamation, including libel and slander
  • Your right to privacy
  • Your right to publicity, including the commercial appropriation of name
  • Intellectual property infringement, including copyright infringement

Reputation and Public Relations

  • User-Generated Content

Cyber protection includes;

  • Data breach
  • Computer security failure
  • Failure to disclose a data breach
  • Privacy policy failure
  • PCI fines & Forensic defence following a breach 

Common Social Media Influencer Insurance Claims

Breach of Contract Claims  

For sportspeople, this could be a simple post-match remark about the quality of an endorsed item. For example, a professional football or rugby player could comment at the end of a game that they didn’t play well due to an issue with the quality of their boots.

The company that makes the boots could bring a breach of contract claim. In this instance, your influencer insurance would step in to defend the breach of contract allegation with your own counsel. The policy also funds the defence councils’ fees.

Copyright Infringement

Say you post a photo of yourself taken a few years ago by someone at an event and haven’t obtained permission from the photographer. You could find yourself in breach of copyright and have an infringement claim against you. Your social media influencer policy would then step in and help you defend the copyright allegation, as well as settle or pay court awarded damages.

You Forget to Mark Endorsements

It is common for any social media endorsement to be marked #ad or have the approval signposted for people engaging with your content. A simple failure to mention this could see an investigation with the Advertising Standards Authority, leading to an adverse ruling against the brand.

The endorsed brand could then file a claim against you for reputational damage. Again, this is where your reputation risk management insurance policy will step in. With the assistance of our counsel, the policy would also pay out any settlement amount.

To get a quote for social media influencer insurance, and reputation risk management, contact us on 01803 659121 or email enquiries@allsportinsurance.co.uk. 

 

All Sport Insurance is an insurance broker covering the whole UK, and as our name suggests, we specialise in insurance for professional sportsmen and sportswomen across a range of products.

As a sports insurance specialist, we provide cover for professionals who compete in over 20 different sports, including football, rugby, cricket, horse racing, golf, basketball and boxing.

Our customers and ambassadors include world record holders, world cup winners, Olympic Gold medallists, domestic league winners & medallists at major championships across a range of products.

Insurance Specialists for the Sporting World.

Who we are?

All Sport Insurance was formed with the purpose in mind to make sure sports professionals have the right level of cover, at the right price, with the right service. Leaving them to concentrate on their sporting goals. Our Sales Director, Andrew Pearce comes from a background spanning over 30 years as a rugby union official. He and the team understand the difficulties sports people have in obtaining competitively priced insurance premiums, that also gives the right level of cover which is most important.

We look to cater for professionals from any sporting arenas, from car insurance for footballers, home insurance for rugby players to commercial insurance for cricketers, van insurance for jockeys and of course, career ending insurance for all sports people. The insurers we work with appreciate that our clients can have specific needs and requirements, which is why every quote is bespoke and tailored to their own individual needs.