If you use social media as part of your work, or if you have a significant online following, then you may need social media influencer insurance.
Even if you do not consider yourself to be an “influencer”, you may still need some specialist insurance to cover the work you do on social media.
In this post we will discuss what social media influencer insurance is, what it covers, and why you should consider it.
What Is Social Media Influencer Insurance?
This is specialist liability insurance for social media influencers and other professionals who use social media as part of their work. Social media influencer insurance can cover anyone who uses their social media channels to promote products and services for third parties.
So, if an individual or a company pays you to endorse their product on social media, influencer insurance could provide essential cover should anything go wrong with your professional relationship.
This specialist insurance can also provide essential cover for public figures, celebrities, and other influential online figures with large audiences. A misguided social media post, or a throwaway comment in an interview, could be considered slander or libel, which could result in costly legal action.
What Does Social Media Influencer Insurance Cover?
Social media influencer insurance can cover the legal fees, along with any compensation that might be due, for a number of claims:
- Defamation – If an individual or a company claims a negative post is slanderous or libellous.
- Negligence – If the influencer represents a company or a brand, then poor online conduct can put this company or brand in a bad light. This could be considered negligence.
- Breach of contract or confidentiality – A promotional contract may specify a certain number of promotional posts, or it may even outline the desired outcomes, in terms of the number of likes or followers. If the influencer fails to meet these terms, they will be in breach of contract. Similarly, if they share any information that is classed as confidential, they will also have breached their contract.
- Intellectual property infringement – If a post uses copyrighted images, videos, or music without permission, then it could result in a highly costly intellectual property infringement claim.
- Regulatory breaches – Online content, along with all promotional content, is highly regulated in many parts of the world. If a social media influencer breaches any statutes, standards, codes, or regulations, it could lead to fines or legal action.
Who Might Need Social Media Influencer Insurance?
- Actors, athletes, politicians, celebrities, influencers, and other public figures with large online followers.
- Paid content creators including YouTubers, streamers, and bloggers.
- Podcasters, TV personalities, radio personalities, and anyone else who may speak or be invited to speak on broadcasts.
- Digital marketers who promote third party products or services on social media.
Do I Need Social Media Influencer Insurance?
If you make your living online, whether as an influencer or a digital marketer, then your reputation is everything. Businesses and brands will choose to work with you as a direct result of your large following and your influence. And when they work with you, they will expect results.
But your situation may be more precarious than it seems. A single off-colour post, or an absent-minded comment in a stream or an interview, could destroy your influence in an instant. And should this happen, it could compromise any contracts you have with your sponsors.
They could make a claim against you, for breach of contract or negligence. Or anyone else involved in an online scandal could accuse you of libel or slander. In any case, this could result in hefty legal fees or compensation payments. And without sufficient cover, you will be personally liable to meet these costs.
We Can Help You Get The Specialist Social Media Influencer Insurance You Need
Online careers can be fragile, and far too many seem to fail overnight. Social media influencer insurance will not itself protect your online reputation. But it will at least ensure that, should anything go wrong, you will be covered for all resulting costs. You should think of social media influencer insurance as an essential safety net that can ensure that a bad situation will not get any worse.
James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance professionals who care about protecting your online brand.
We will take the time to understand your public profile, and your relationships with your sponsors and promoters. We can then help you get the specialist insurance you need to cover you for the risks you face as a social media influencer.
Learn more about our specialist insurance services.