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Media liability insurance is protection for anyone in the media industry who produces and disseminates content, from publishers, bloggers, authors, and even to movie producers. You need to be able to conduct your business without the fear of liability claims being filed against you.
Media liability is a specialized type of professional liability insurance (also referred to as errors and omissions insurance, E&O insurance, or media perils coverage). This insurance policy protects individuals and businesses who create and distribute media content that are accused of defamation (libel or slander), data breaches, breach of nondisclosure, invasion of privacy, and copyright/trademark infringement.
What media professionals need this coverage?
General liability insurance covers third-party bodily injury, third-party property damage, and advertising injuries (i.e. intentional tort), so why would you need media liability insurance? Surprisingly, most carriers of general liability insurance exclude coverage for advertising injury if you are in an industry that is considered high risk. So if you’re in publishing, advertising, broadcasting, etc. you need to get media liability insurance to protect yourself and your business from risk.
If you or your business are accused of any of the following, media liability will provide coverage:
Make sure whatever insurance policy you choose covers the perils/torts that you’re most at risk for. If they are excluded from the policy, see if they can be added as an endorsement. If not, it’s time to shop around.
Your insurance company will cover media liability claims lodged against you up to the coverage limits of your particular policy. There is usually a “per claim” or “occurrence” limit and an “aggregate” limit, i.e. the total amount they’ll pay out during the policy period.
Here are some examples of the types of claims that are covered:
Most media liability policies are determined on a claims-made basis.
What’s excluded from media liability insurance?
Check your policy carefully to see if they include any of these clauses.
Lastly, does your policy cover the cost of complying with an injunction? If you have to retract published materials, it can be costly.
Here are a few other insurance policies to consider:
Cyber Liability Insurance: If you're the subject of a data breach or cyberattack, cyber liability can provide credit monitoring and even pay ransom demands.
Commercial Crime Insurance: If you have a location for your business, consider protecting it's contents with crime insurance.
Workers’ Compensation Insurance: If you hire employees, you're required to get workers' compensation insurance. It covers their medical bills and lost wages if they're injured at work. It also protects the business owner from costly claims.
Most media liability insurance policies for small businesses offer coverage around $500,000 per claim or $1 million aggregate. Large publishers can often obtain policy limits in the hundreds of millions. Premiums can range anywhere from the low end of $500 to an average of $2,500. Be sure to speak with an insurance agent to determine exact costs for your business based on your unique needs.
Whether you’re looking to switch insurance carriers or seeking out coverage for the first time, we can help! If you’re like more information or want to get a free quote, complete the form at the top of the page or give us a call at 877-907-5267.
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