AIMIA PROFESSIONAL LIABILITY INSURANCE PROGRAM

Designed exclusively for AIMIA members to meet the specialist needs of the Interactive Digital Media industry, the program, underwritten by QBE Insurance, provides comprehensive coverage at highly competitive rates.

Coverage includes:

Indemnity against legal liability for all claims direct & indirect economic loss suffered by a third party in respect of acts, errors or omissions occurred in the provision of interactive media
Duty to defend – defence costs paid & deal on your behalf with investigations, negotiations & settlements of claims made against you as well as public relations costs in respect of protecting your reputation
Intellectual property – coverage in respect for unintentional infringement of copyright, trademarks, registered designs, circuit layout rights, plagiarism or breach of confidentiality by you
Loss of data – coverage arising from destroyed, erased, damaged, corrupted or mislaid data
Defamation, fraud & dishonesty – covered provided in the case of a claim against you for defamation and any fraudulent or dishonesty claims
Personal Injury & Property Damage Cover - Any claims against personal injury or property damage & tenants liability cover
Staff coverage: Outgoing principals - in respect for acts of errors or emissions or fraud in conduct of the business. Consultants, sub-contractors or agents - in respect of acts, errors or omissions of any consultants, sub-contractors or agents (not extended to the consultant, sub-contractor or agent themselves). Joint Venture – coverage in respect for any claim made against you while undertaking a joint venture (not extended to the joint venture partner)
Optional extensions include: Additional cover across USA & Canada. Licensee IP rights. Covers contractors – ‘you’ or ‘your’ includes covered contractors

For all exclusions, conditions and T&Cs for this coverage please read Interactive Media Policy wording Click Here

Click Here to access the application form online and fill it out and email to rnisbet@armstrongnisbet.com or call 9231 8660.

INDEX:

ANIB

ABOUT THE AIMIA PROFESSIONAL LIABILITY INSURANCE PROGRAM

What is it?
Why do I need it?
How does it work?
Who is involved?

WHAT IS IT?

The AIMIA Professional Liability Insurance Program comprises:

Professional Indemnity Insurance
Public/Products Liability Insurance
Directors and Officers Liability Insurance (optional)

The program provides AIMIA Members with insurance cover for liability for claims made against your organisation in respect of acts, errors, or omissions incurred in the provision of your products and services.

The program also offers cover for certain types of claims relating to:

Trade Practices (and related) legislation
Libel and slander
Fraud and dishonesty
The acts of consultants, sub-contractors and agents
Infringement of intellectual property
Loss of data
Defence costs

The program has been specifically designed for the Interactive Media industry and is not simply a common-or-garden ICT industry policy with some new words thrown in. We looked at a lot of the existing policies in trying to find insurance cover that will meet the needs of AIMIA Members. All of the existing policies we investigated excluded services and products in games development, web design, advertising and a range of other activities that are the bread and butter of many AIMIA Members.

So in conjunction with insurance brokers Armstrong-Nisbet (ANIB) we embarked on a 2-year odyssey to create a professional liability program for AIMIA Members that actually provides cover for what we do as an industry. After much research, discussion and, explanation, QBE Insurance (Australia) Ltd has prepared a program for AIMIA Members that we expect to contribute to the success of our individual Member companies and to the growth of the industry overall.

We believe this is the only policy deliberately covering the needs of the Digital Media Industry in Australia, and quite possibly the first in the world as well.

Please note that the program has been structured for the majority of AIMIA Members but is not intended for those AIMIA Members who are major international media companies or global telecommunication groups. Multinational AIMIA Members typically have a different risk profile and international insurance programs put in place by the corporate HQ overseas to cover company operations globally.

There are various extensions and exclusions in the policy so please make sure you read the policy wording and proposal very carefully. This is the insurance industry, they’ve been doing this for hundreds of years, and they are most likely to be the people who invented the phrase “what the big print giveth, the small print taketh away”.

The Policy does exclude:

USA/Canada

However! Members can apply to ANIB for optional insurance cover for the USA/Canada and for infringement of Patent as extensions to the main program. The primary reason for not including these in the main program is that they may distort the premiums for Members not needing cover for the USA/Canada or Patents.

General exclusions are set out in the Policy wording and may relate to fraud or criminal activity.

CLICK HERE to download the policy wording (PDF).

WHY DO I NEED IT?

The official line is that as your industry representatives, the AIMIA Board recognises the financial liability to members from legal actions for negligence arising out of interactive advertising and media business activities. The Board recommends that Members should affect Professional Indemnity and General Liability Insurance.

AIMIA endorses the Professional Liability Insurance Program specifically designed for our industry by our broker, Armstrong Nisbet, and underwritten by QBE Insurance (Australia) Limited.

The AIMIA/QBE policy will underpin the financial standing of Members and the professional standards and ethics of the industry within the public and private sectors.

We can also think of lots of other really practical reasons why Professional Liability Insurance is a good idea:

It will help protect your business. Whether you’re an owner, a shareholder, or one of the senior executives running the show, protecting the business from professional liability claims is a vital part of your risk management program for the company. Imagine the disruption to your business if you’re hit with a copyright infringement claim. The time wasted, the lawyers, the money….The AIMIA Professional Liability Insurance Program is designed to help ensure that your business has the right sort of coverage to survive such an event.
Having Professional Liability Insurance may help your company win more business. Some potential clients demand a certain level of Professional Indemnity Insurance from prospective suppliers before doing business with them. Having PL Insurance also says lots about your professionalism as a firm.
It may also help you attract investment, get access to capital or find new business partners. Having Professional Liability Insurance is a pretty good indicator that you’re serious about your business and its future.
The more AIMIA Members that join the program, the greater the discounts available to Members.

HOW DOES IT WORK?

You have to be an AIMIA Business, Associate, or Corporate Member (and fully paid up) to access the program.

To participate you will need to complete a proposal and email it to Armstrong Nisbet (aimia@armstrongnisbet.com). They will then obtain terms and a quote from QBE and provide them back to you. If you’re happy with the terms and quote you will be required to sign the completed proposal form and fax it to QBE: 02 8275 9607. Not very digital media, we know, but we’re dealing with the insurance industry here and they want to see your signature on the proposal.

The AIMIA Professional Liability Insurance Program is a “Pooled Premium” scheme meaning that the Insurers, QBE, take into account all the premiums paid by AIMIA Members when working out premiums. While individual premiums you pay will depend on your company’s circumstances and needs, the Pooled Premium approach means that the more AIMIA Members that join, the greater the level of discounts available to participating Members.

Premium Finance for monthly premium payments is available through Armstrong Nisbet Insurance Brokers.

Register to join the Program

WHO IS INVOLVED?

Insurers

Armstrong Nisbet Insurance Brokers (Authorised Representatives of National Adviser Services Pty Ltd, AFL No. 233750) manages the Professional Liability program for AIMIA on behalf of members. The policy is underwritten by QBE Insurance (Australia) Limited.

QBE Insurance (Australia) Limited is a member of the QBE Insurance Group, Australia's largest international general insurance and reinsurance group, and one of the top 25 insurers worldwide. www.qbe.com/australia

Armstrong Nisbet Insurance Brokers/QBE will work with Members to set up risk management programs.

Brokers

Armstrong Nisbet Insurance Brokers are Australian owned insurance brokers that provide specialist services for professional consultants in the Information Technology sector. Armstrong Nisbet Insurance Brokers will negotiate terms and conditions for professional liability for members as an independent Insurance Broker. CLICK HERE to download the Armstrong Nisbet Financial Services Guide (PDF).

Insurance cover under AIMIA/QBE Insurance is available through Armstrong Nisbet Insurance Brokers or through a members current insurance broker. A broker fee will apply.

CLICK HERE to download the policy wording (PDF).