If you own a company in the media industry, your insurance shopping should be geared towards policies that match the special risks involved with a media business. E&O coverage protects businesses against allegations of errors and omissions. How do you know if you need media professional liability coverage?
What Does the Media Industry Include?
When you’re considering who can be insured under an E&O policy, it can cover your company, your employees and your directors and officers. The types of businesses that may need media insurance coverage include:
Any professional in the media industry requires specialized insurance.
What Are the Risks to the Media Industry?
When you work in the media, there are several types of claims that you may be vulnerable to. These claims include allegations of slander, libel and defamation. If you write a piece on a specific person, he or she may claim that you invaded his or her privacy. Other risks include plagiarism, copyright infringement and breach of agreement.
When you invest in insurance, you need to be sure that the coverage fits your company. Every industry has its risk profile and if your insurance coverage does not match your profile, then there may be gaps in your coverage. Gaps can cause a severe financial loss for your company.