You may be scratching your head and wondering what this post is all about. Web Directions runs conferences right. So what’s all this about insurance?
Read on for more of why we have worked with Intuitive Insurance, an Australian Insurance Broker which specialises in insurance for the creative and technology industries, to put together a package of professional indemnity and public liability insurance, with optional cover for loss, damage or theft of portable equipment like laptops tables and phones, and the impact of cybercrime. Or if it sounds of value to you, jump over to our insurance site, and you can read all about it, and get an anonymous quote in a couple of minutes. We’ve found with a few folks we’ve already been working with they’ve saved a considerable amount of money.
So, why get insurance?
A good part of our audience works at (or runs) agencies, or works as freelancers and contractors. Not only is it very often contractually required that agencies and contractors have professional indemnity, and public liability insurance, it just makes sense. Insurance is something we always hope we’ll never need, but are grateful we have when we need it.
Except–the insurance industry doesn’t always have the best reputation. We trust it will work for us if we do unfortunately need it, but the operative word here is trust.
And how do we know it is tailored for our needs, and also our risks? Then there’s the challenge of getting a quote, without handing all our contact details over to an insurer. And the effort of obtaining multiple quotes, and comparing what they offer, and the price you’ll pay. Potentially confusing, and anxiety inducing.
How we use insurance at Web Directions
Now, at Web Directions we have quite a bit of insurance. Most venues will require public liability insurance, so that if someone is injured at their venue, due to our negligence, then they know they won’t be left with the risk of having to defend themselves in court, or pay a settlement. We’re required to have that insurance by contracts we sign, but it also makes sense to mitigate against a potential risk to us.
But that’s not all we insure for.
In 2010, Eyjafjallajökull, a volcano in Iceland, erupted and caused chaos for global air traffic. We were fortunate with timing, but imagine if our entire lineup of international speakers were unable to get to Australia? A good many folks might cancel their registration (quite rightly too) on the basis they decided those international speakers were the reason for coming.
In 2011, ash from a Chilean volcano circumnavigated the globe twice, founding air traffic in Australia. Imagine the the impact of a sizeable chunk of our audience not being able to attend the conference.
In recent years we’ve also seen SARS, Swine Flu, and other potential global pandemics which could drastically curtail international and even local travel.
Any of these could potentially bankrupt an event company.
You don’t have to think too much about potential risks to appreciate the value of investing a small percentage of our turnover in insurance to manage those risks, and honestly provide real peace-of-mind.
Now while those types of risk aren’t typically the sort contractors and agencies might have to mitigate through insurance, the same thinking applies. In fact, as part of putting together these offerings I thought about what could be the most devastating impact on a freelancer or agency–theft (or even loss or damage) of the tools vital to conducting their business.
I’ve known many contractors have a laptop stolen, which even if all backed up, means precious cashflow spent on a new one. At Web Directions some years ago, our office was broken into, and several computers stolen. The fact we could replace them almost immediately with no financial impact as our insurance covered them was a godsend. But our (optional) device insurance doesn’t only cover theft, it covers loss and damage as well.
a lot of thinking, and conversations with people in the industry about insurance, went into the decision to explore whether Web Directions might have a role to play in helping a fair chunk of our community with a non-trivial business decision and expense. We’re been working with Shane Thaw, who founded Intuitive Insurance several years ago to focus on the creative and technology industries to put together quality insurance, at the best possible price, that really addresses the needs of contractors and agencies.
If that’s you, we’d love you to take a look, and let us know how it compares, and what you think.