Media Liability Insurance

One way or another, almost all businesses need to produce and broadcast or publish media content. The advent of the Digital Age has opened up new forms of communication and anyone with access to a social media account can now become a content creator. This expanded exposure, however, means that any kind of communication outlet could be at risk from liability claims for things like libel, intellectual property claims or invasion of privacy. This is where media liability insurance can help.

Media Liability insurance is a specialised form of professional liability insurance, also known as Errors & Omissions, specifically designed to cover media creators who might be at risk of incurring liability claims from third parties after a professional mistake. This type of policy is usually purchased by advertising agencies, publishers, broadcasters, authors, and other related professionals who create and distribute media content. More recently, this list has expanded to include bloggers and social media influencers who may be hired by companies to promote their products.

With hardly a week going by without another social media or advertising fail hitting the headlines, or news about someone suing a newspaper for something they published going public, media liability insurance is definitely a necessity for those involved in the media sector. Policies for this particular type of insurance are usually written on a named-perils basis and cover the broad areas of defamation, infringement of copyright, plagiarism, and invasion of privacy. Some policies may also cover false imprisonment, infliction of emotional distress, and failure to maintain a source's confidentiality.

So how does Media Liability insurance actually help when there has been an error causing litigation? The biggest thing a media liability policy can handle for you is your legal defense and with that the hefty costs that go along with it. In fact, your media liability insurance will cover any legal fees, penalties ordered by the court, or a settlement payout. Given the high costs that lawsuits of this nature can have, it is important to keep this in mind when choosing the amount of coverage you want.

While being extra careful and avoiding a claim is, in fact, your best protection, Media Liability insurance is designed to mitigate the new types of risks and exposures faced by individuals and businesses regarding the content they produce. Here at Pitsas Insurances, we have the expertise and knowledge to specifically offer flexible policies that address the convergence of technology and media and provide comprehensive coverage for any risks you may face while creating content on and offline.

 

Rozalina Georgiou

August 6th, 2021

Limassol