Parallel Lines: Chasing Rainbows

Parallel Lines: What Do Creatives and Insurance Have in Common?

 

If you’re in the creative sector how do you see insurance? To shine some light on what we do, we’ve come up with five parallels between pitching for projects and protecting your business with insurance. We think you’ll find these helpful when you’re looking for the right cover.

 

  1. Chasing Rainbows

 

Another common issue we come across is the mismatch between what the client expects and what the agency has agreed to deliver.

 

This basic misalignment between expectation and delivery can do a ridiculous amount of damage.

 

It can cause headaches in the client-agency working relationship, slowly grinding down what was once a healthy partnership.

 

Dissatisfaction can lead to the client withholding payment, or disputes about whether the service has been properly delivered.

 

However, the main reason we think clients raise this as an issue, is because it’s a breeding ground for claims.

 

Here’s an example: you’re an agency providing design and marketing services. As part of what you offer, you agree to provide some SEO assistance, ensuring the content delivered will help your client move up the search rankings. No matter how strongly you stress to the client that results take time, after a couple of months they keep coming back with complaints that they aren’t on the first page of Google.

 

It is the same with insurance.

 

The sort of magical “Unicorn Insurance” policy that can cover you for any and every eventuality isn’t a practical reality (though we’ve actually seen an advertisement for “Unicorn Insurance”, so maybe we’ll reserve judgement).

 

Insurance, like creative work, isn’t a magic bullet. Policies vary greatly and it’s up to you to provide enough information at the outset to enable your insurance provider to come up with the right policy for you. And one your provider has presented you with the policy you should spare the time to give it a careful inspection.

 

It’s crucial that you appreciate what your policy does do and what it doesn’t, and whether there are any obligations on you to ensure the cover responds when you have a claim.

 

For instance, check that you can comply with any security conditions imposed in your policy, don’t wait to do it after you’ve actually had a break-in.

 

Tip: have realistic expectations, listen carefully to what you’re being offered and always check the details.

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