Whether involved in journalism, entertainment or advertising, media companies play an important role inside a well-functioning society. A harsh reality for these content creators may be the ever-present chance of a case. One way to mitigate that threat is insurance with media liability.
Why Is Specialized Media Liability Insurance Necessary?
A typical commercial general liability policy includes substantial libel and slander protection. Unhappily for media companies, that protection excludes broadcasters, publishers, advertising agencies and information distributors. Content creators can fill that gap with a media errors and omissions liability policy.
What Would be the Options that come with a Media E&O Policy?
A media E&O policy may cover a business entity, senior management, employees or independent contractors. The insurance policy pays defense and settlement costs for claims that fall into these broad categories:
- Defamation
- Invasion of privacy
- Copyright or trademark infringement
- Plagiarism
- Breach of ip agreements
A media liability policy features a list of covered activities, which section must align closely using the policyholder's endeavors. A too-broad list saddles a company with higher than necessary premiums. In a more hazardous situation, an incomplete activities section leaves a business unprotected from entire litigation categories.
The requirement for highly customized coverage makes a persuasive case to have an insurer with media coverage specialists. With well-structured insurance in place, media businesses can focus on producing top-notch content.
