Commentators, reviewers, bloggers and other are now exposed to many unexpected risks.
A growing number of insurers are now offering special social media influencer insurance products and packages to help online personalities to cover themselves against several risks.
This new form of coverage is meant to protect influencers against their unique liability exposure.
Coverage through social media influencer insurance is a new form of solution for that industry. It moves beyond the traditional forms of business coverage which don’t quite represent the types of risk faced by those writing and posting text, images and video online.
Influencers such as bloggers and social media identities commonly share opinions, reviews and take part in online product promotion and marketing. The right coverage solutions protect those who are active on the blogs and social media accounts for these purposes. This coverage is an altered form of that available for small business owners or for manufacturers and fashion houses, among other companies that promote their own products and services.
Social media influencer coverage is an appropriate type of coverage for many individuals and businesses.
Among those who could benefit from this type of small business insurance includes the following:
• Bloggers
• Vloggers (bloggers via video)
• Social media personalities
• Industry influencers
• Celebrities of various levels
• Sports personalities
• Public figures
• Academics
• Thought leaders
• Company founders
• Senior company directors
Among the benefits of this type of coverage include the fact that it provides protection worldwide as social media is not limited to the individual or business’s locality. It can be viewed by fans and followers worldwide.
It also provides additional protections to cover equipment such as computers, phones, cameras, office contents, and other possessions and accessories that are a part of operations. It can provide coverage for master keys, flood, earthquake, extra expenses, business interruption, crime, machinery and others.
Extensions to social media influencer insurance will typically include risks such as the following coverages:
• Advertising liability
• Errors and omissions
• Libel and slander
• Products recall expense
• Faulty workmanship
• Breach of confidentiality
• Breach of intellectual rights
• Tenants legal liability
• Employee benefit liability
• Employment practice liability
• Personal and advertising liability
• Medial payments