Multimedia Liability- What is it?
A number of insurers have designed specific covers to protect Multimedia clients for a wide range of exposures faced in their Industry.
It is aimed at occupations that distribute information to the public through web sites or other means of communication (desktop publishing, email). No longer the exposures of the traditional publisher used to face but now have expanded to Publishers and Broadcasters of instructional material, Electronic publishing services and other entity engaged in preparing materials for publication and republication .
Then there are the risks faced by Television and Radio stations, Motion Picture companies, Cable and Satellite broadcasters. Basically any type of Electronic transmission business or those that carry out Researching, exhibition, serialization and material distribution services such as the Advertising business, Websites or Online or Interactive occupations, that can push the boundaries of content delivery, made possible by the converging advancements of technology. All could be exposed to Trademark infringement, personal injury liability due to libel and slander or unfair competition claims and so on.
What does it cover?
The Multimedia liability policy covers liability arising from the publication, broadcast or dissemination of content. There are the Defamation Risks, Copyright Breaches, Cyber Risks, Advertising Liability and even Personal Appearance Liability that can be covered. Then there are the more common covers that can be included such as Professional Indemnity; covering civil liability and Public and Products liability. Plus these policies include Defence Costs with some in addition to the Limit of Liability.
Extensions with some insurers include awards decided by Ombudsman, Cost of inquiries, Vicarious liability cover for consultants, contractors, and agents, Extended reporting period, Innocent party indemnity, Loss of documents and Withdrawal expenses.
Some will provide additional benefits such as limits of liability and excesses that are exclusive of legal costs, Reinstatement of the limit of liability and Continuous Cover clauses. Others may provide Worldwide jurisdictional and territorial cover (if needed), The Insured may have the option to defend, choice of a panel lawyer or can choose your own legal representative.
What should you do now?
Although new media and other publishers worry about claims like libel and copyright infringement, attorneys and insurers have seen a dramatic rise in the last few years in the number and severity of claims for Media Liability errors and omissions.
Unlike traditional claims involving allegations of libel, copyright infringement, invasion of privacy, piracy and plagiarism, Media Liability errors and omissions claims seek to impose liability on the publisher for physical injuries or economic loss allegedly caused by some error or negligent publication in the ideas or expressions contained in the published material.Given the evolving nature of film and video producer liability, there are also those unexpected claims against you that your insurer failed to predict?
Can you afford to go without the protection of a Multi-media Liability policy?
If you want to know more about these policies and conditions relevant to your profession, contact a specialist insurance broker such as Cooper Professional Risks Pty Ltd.
An insurance broker’s role is to act as your representative and work in your interests, seeking the best cover at the best price for you from market knowledge.
So call a good Insurance Broker. Call CPR.- Experts who will save you.