Media Liability Insurance Is Critical
DOES EVERYONE REQUIRE MEDIA COVERAGE?
Insurance protection for online publishers is an essential piece of protection for you and your business. You’re certainly aware of how the Internet has and continues to flourish in the last decade. Have you realized that all the standard liabilities that have plagued traditional print publishers in the past have shifted to the online world as well. The increase in on line publishing (blogs, web site pages, advertising, etc.) media liability must be specifically added as part of a insurance package in limits that protect your assets. Do not fall into the mental trap of thinking your standard liability policy will be sufficient to protect you. Don’t relay on packaged commercial business policy alone. Many insurance companies will offer the coverage with limits and coverage exclusions that may not truly protect you in case of a client or third party claim. All businesses who have a website needs this coverage as well.
WHAT IS MEDIA LIABILITY COVERAGE?
Media Liability Coverage is a type of professional liability insurance, most commonly known as errors & omissions (E&O) insurance, designed for publishers, broadcasters, other media-related firms and businesses of all strips. Media liability insurance coverage protects you from claims and charges of libel, slander, copyright and trademark infringement for such items as content (expressions, photos, slogans, etc) uses on your Web site, posted on bulletin boards, in chat rooms by visitors, texting, commenting, emails in other words think everything written in what would be considered a public or perhaps a private forum. Advertising claims or words indicated in advertising, banner ads, and statements on Yelp, Facebook and all social media sites should be considered as a risk for a claim or charge against your business.
Although the First Amendment provides important defenses to the news media, the costs of vindicating those defenses in court can be staggering. And your probably not considered a media company. Defense expenses and jury awards against organizations can be significant.
WHAT PETER HAS SAID.
“Many times, when I’m talking to a clients specifically in the media or publishing industry, they misunderstand what their commercial general liability policy covers,” Peter Green said in a recent profile by ia Magazine. “In most cases, personal and advertising injury liability coverage excludes coverage for businesses in the media and internet industry. Usually, this is not clear to the client just by looking at a declarations page. Pointing out the exclusions helps the client understand the need for a separate media liability policy.”
In conclusion, clearly you need to understand and focus on what is not covered (exclusions of a policy) within your policies. Coverage gaps in a policy can be devastating should a claim be made against you. Should you have more specific questions with regard to media liability coverage feel free to call Peter Green Insurance Agency, 714-258-2800 for a free consult or to arrange a review of your existing policies.
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