Professional indemnity insurance for games developers
Fun gets serious
Who doesn't like the idea of playing games for a living? There's rather more to it than that, of course – get it right and your bright idea could be the next big thing.
However, the smiles fade quickly if there's a problem with your work. Delay a client's deadline, or stand accused of copying someone else's idea, and you'll find defending yourself is no laughing matter.
Professional indemnity insurance gives your business an extra life. It pays your defence costs, fights your corner and compensates your client if needs be.
This gaming lark should be about fun, fun, fun. You don't want to be weighed down by things like insurance, right?
Well, sorry to put a dampener on things but, in our experience, accusations and claims are a serious matter.
The fact is you're in a multi-million pound, fast-moving, high-risk industry. There's a huge amount at stake – not least the publisher's bottom line. What happens if your mistake delays a launch? Or that cute character you've created looks awfully like a certain Italian plumber?
Claims and allegations tend to stick around, too. They don't go away if you ignore them. Legal action means, well, exactly that.
Games developers' insurance levels the playing field. It takes care of your legal defence and, if needs be, compensates your client too. You need it because you're not a legal expert, or a bottomless pit of money, and because you are bothered about your reputation.
Budget allowing, as much as you can get your hands on.
That might not sound very helpful but there's some truth in it. If only because you never know what's going to happen. Or how much it's going to cost to put right.
Weighing up how much cover you need means thinking about: the work you do, who you do it for, and how much they're paying you to do it. Bear in mind your level of cover pays to defend you, fix your mistakes, and compensate your client if needs be. None of these things come cheap and you need to make sure you have enough insurance to cover everything.
It’s a tricky one to get right. Have a read of this guide or call us if you need more help.
Negligence claims and allegations made against you by clients and third parties, because of mistakes you’ve made and things you’ve failed to do.
Specifically (but depending on the policy wording):
- Intellectual property infringement
- Loss of documents or data
- Negligent misrepresentation or misstatement
- Employee dishonesty
- Virus transmission
- Breach of confidentiality
- Failure of third-party equipment
But that’s not all. Some professional indemnity policies can fix a mistake before your client is even aware of it, thereby preventing a claim in the first place.
Public liability insurance is for when you go out and about on business, or have visitors to your studio. It’s for claims of physical damage to property and people. Useful if you’re clumsy.
Employers’ liability insurance covers your business if an employee sues it for damages. Claims are usually because they’ve suffered injuries and illnesses as a consequence of working for you. It’s a legal requirement for UK businesses with employees.
Office and property insurance covers the things in your studio (furniture, plants, fixed IT equipment etc) and portable insurance covers gadgets and technical equipment away from the studio (laptops, tablets, projectors etc). If you’re not sure it’s worth insuring, add it all up – it’s probably worth more than you think.
Business interruption insurance means you can still work when your studio's out of action. Be it flood, fire or flea infestation, you’re covered for the costs of setting up elsewhere and for any lost revenue in that time.
Directors’ and officers’ insurance covers your company bosses. Anyone from regulators to shareholders to competitors can accuse you of not running a business with due care. Worse, directors are personally liable for their actions. The good thing is this insurance covers your defence costs and any compensation you have to pay. So you can put away your chequebook.
Glad you asked.
The simple answer is: we know what we're doing. Professional insurance is all we do so we know what you need, even if you don't.
We also know that buying insurance can be, well, a bit of a pain. So we make sure getting yours is quick and hassle-free.
We do all that while treating you like a human being, too. You won't find a call centre here. Or a phone menu. And we've banned nonsense insurance jargon.
Plus, every insurance-related question you can think of is answered in our School of Risk, and you'll get our quarterly risk advice email – 'The Waggle' – to help you avoid problems in the first place.
If you're after a second opinion, have a look at our customers' feedback. They're the ones you should really listen to.