Specialist insurer Beazley has launched a new occurrence media liability policy covering the many risks faced by small to medium-sized media outlets and publishers in the United States.
The media landscape has changed considerably in the last decade. As traditional publishing and media groups have moved increasingly online, freelancers who solely publish online, including bloggers, vloggers and social influencers, are growing in number and reach. As the public looks to a wider range of sources for content, the media sector has become more crowded and awareness of the risks associated with publishing varies widely.
At its core, Beazley’s media liability policy provides professional indemnity cover written on an occurrence basis. The coverage focuses on defamation, libel & slander and infringement of copyright & trademark and includes a raft of other content-related exposures. In addition, the policy includes unintentional breach of contract with a client, and mitigation costs (sub-limited) to minimize claims escalation.
The policy also provides optional coverage for technology errors & omissions; information security and privacy; and bodily injury or property damage arising out of the publication of content.
Angela Weaver, Beazley’s global head of media liability, said: ”The US media sector is undergoing substantial changes, with the launch of new channels for publishing and broadcasting and the growing reach of bloggers, vloggers and social influencers. Freelance publishers and start-up media ventures ought to be aware that they are as liable as traditional, established media groups for the content and materials they publish or share. They face a range of exposures including defamation, intellectual property and privacy and should consider the precautions and cover they need to protect themselves against potential claims.”
“Many media businesses are diversifying and will undertake contracts for services as well as publishing or broadcasting content. Our new policy explicitly defines the breach of contract cover as well as more traditional media liability.”
Beazley’s policy covers various professionals including publishers, broadcasters, authors / journalists, bloggers, vloggers, social influencers and content creators, as well as advertising producers and advertising agencies.
Limits of up to $5 million are available on a worldwide basis.
Leading the launch is Beazley’s team of private enterprise insurance specialists across the US, in addition to the London market-based media liability team.