As technology continues to develop and change, liabilities for professionals and business evolve as well. Cyber insurance has become a must-have protection for businesses, but it’s not necessarily a one-size-fits-all type of coverage. Media and publishing companies, for example, are exposed to additional liabilities that have to be addressed by a specific type of coverage. These days, almost any company with a significant online presence can be legally identified as a “publisher” if a liability case was brought against them, so it’s important to address these liabilities before they arise in the form of a legal battle.
What is Media Liability Insurance?
Media liability insurance is a type of coverage that is specifically designed for media-related organizations such as publishers, broadcasters, advertising agencies and video or film producers. It offers broad protection to help policy holders with the costly damages that can result from a variety of media related claims.
What Does Media Liability Insurance Cover?
The term “media,” is a broad descriptor, so the coverage offered by media liability insurance is typically customized to fit the policy holder’s needs. Media liability policies are designed to protect the insured from common media and entertainment-related liability risks, which can include, depending on the policy:
- Copyright infringement
- Verbal or product disparagement
- Breach of implied contract
- Breach of license agreement and/or breach of product placement agreement
- Unauthorized use of material, trademark or names
- Invasion of privacy
A media liability policy will usually cover the cost of any settlements and judgments against the insured, as well as necessary defense costs and other miscellaneous legal fees. Additional coverage can be added, and may include; financial incentives for early claim resolution, defense for fraud, dishonest or intentional acts and defense for discrimination-related claims.
A media liability policy can not only cover a business, but may also be written to provide protection for subsidiaries, directors, officers and employees. Additional coverage may also be included to cover freelance or contract employees. This can be especially useful for organizations that employ remote writers to handle content creation, as it’s more difficult to ensure that the media they are submitting is not copied from another source.
The cost to defend a liability claim, even if frivolous or unfounded, can be financially devastating for any organization. It’s important for agents to review all the nuances of their client’s organization(s) to ensure that the coverage they can offer is broad enough to cover all necessary entities without leaving any gaps in coverage.
About Highland Risk Services
At Highland Risk, we use our expertise and experience to provide insurance information and programs to those who serve long-term care and senior living facilities. Since 2007, we’ve been offering insurance and risk management plans designed to help our agents give their clients the ability to achieve continued growth while simultaneously protecting against loss, containing costs and increasing profitability. With offices to serve you in Chicago, Illinois and Phoenix, Arizona, we do everything we can to make your experience with us as professional and transparent as possible. To learn more, contact us at (877) 890-9301.