According to Beazley, its media liability policy offers professional indemnity cover written on an occurrence basis
Media liability policy introduced for US media SMEs by Beazley. (Credit: Marisa Sias from Pixabay)
UK-based specialist insurer Beazley has rolled out a new occurrence media liability policy for the US small to mid-size enterprise (SME) media sector.
The new policy is said to cover the several risks faced by SME media outlets and publishers in the US.
According to Beazley, its media liability policy offers professional indemnity cover written on an occurrence basis. The company said that the coverage of the policy focuses on defamation, libel and slander, and also copyright and trademark infringement.
Furthermore, the coverage includes a raft of other content-related exposures. Additionally, the new policy covers unintentional breach of contract with a client and mitigation costs (sub-limited) to minimize the escalation of claims.
The occurrence media liability policy also offers optional coverage for technology errors and omissions, information security and privacy, and bodily injury or property damage resulting due to the publication of content.
Beazley media liability global head Angela Weaver said: “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.”
Who all can benefit from the new media liability policy from Beazley
Beazley said that its new policy for media SMEs covers publishers, broadcasters, authors and journalists, bloggers, vloggers, social influencers and content creators, and also advertising producers and advertising companies.
The specialist insurer is offering limits of up to $5m on a worldwide basis.
Recently, Beazley launched a new insurance policy in Canada called Virtual Care, which offers protection against risks related to technology-enabled healthcare and lifestyle management services.