In today’s commercial environment your clients, whether individuals or corporations, are more likely to seek compensation than ever before. 

Being a marketing professional can be exciting and at the same time can be unpredictable. Exposure to expensive, time consuming litigation from dissatisfied clients is a real threat.

It is therefore crucial that every marketing professional ensures his or her activities are covered by a professional indemnity policy.

What is Professional Indemnity Insurance?

A professional indemnity insurance policy is designed to protect the personal assets of a marketing professional awarded damages against them in a court, or resulting from an approved negotiated settlement, in relation to an act, error or omission committed during the conduct of professional business activities. The policy also covers the costs and expenses of defending claims.

Who needs Professional Indemnity Insurance?

Quite simply, anyone who gives to another person advice and/ or services of a skilful character according to an established discipline may be regarded as a ‘professional’

Why do you need Professional Indemnity insurance?

As a marketing professional, you owe a “duty of care” to your clients. If you breach that duty of care, for instance by making an error in the services you provide, your clients can claim compensation from you for the losses and expenses caused by your negligence.

With professional indemnity cover, we will help you to defend the claim, and pay any damages you may be required to pay.

It is worth noting that, even if the allegation made against you is false, you will still have to defend yourself.

And, while in reality most claims are settled before they get to court, the legal costs involved in even quite minor disputes can build up very rapidly.

Claims Examples:

  • Breach of copyright/trademark
    Unknown to the insured, one of its employees had copied and used an overseas company’s product. Copyright to the product was owned and registered by the overseas company. The new product was then marketed and sold. The overseas company, after becoming aware that this derivative version was being sold in the local market, brought a claim against the insured alleging breach of copyright and loss of profits and reputation.
  • Misleading and deceptive conduct / Trade Practices Act
    A consultant alleged not to have ensured all necessary sign-offs when the ACCC investigated a television advertisement containing misleading information.
  • Misrepresentation
    The claimant alleged it relied upon misrepresentations made by the consultant regarding a fundraising contract. This included amounts of money that would be raised, incorrect timeframes and failure to achieve outlined goals. Also, the failure to provide progress reports to the claimant to act as a warning about missed performance targets.
  • Defamation
    Comments made on a website about a competitor’s activities led to an action of defamation. Product comparison commentary also led to allegations of misrepresentation.
    In another instance, a woman’s business name, home address and telephone number were incorrectly inserted in the Escorts section of a telephone directory. The complainant was awarded compensatory, aggravated and special damages.

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