The Role of Multi-Media Liability Insurance

The Role of Multi-Media Liability Insurance

According to the Yanks, media liability insurance was created in Kansas City in the USA. One may have  thought it more likely Hollywood.

Apparently during the 1920s, a book editor, by the name of William Edgar White, sought underwriters to provide a specific line of insurance to indemnify against media exposures.

The aim of the cover was to provide for defence costs as well as indemnity for a first party loss.

The policy generally includes:

Some claims typically not covered under a multi-media liability policy include:

Claims against media groups are thriving. Some examples of recent litigation include :

 

Plagiarism is often alleged against Movie makers. Sometimes injunctions to stop films are filed. These usually arise during the publicity and promotional period. The advertising costs can even exceed the costs of making a film. Changing a marketing campaign can be a costly undertaking.

Under a multi-media liability policy the types of relief covered include:

While television and movie studios, music companies, print publishers, broadcasters, commercial printers and advertising agencies may be the obvious buyers of multi-media liability policies. However now anyone providing any form of electronic published material such as we see from Web Sites, Web Hosters and Software developers through to universities, online retailers and healthcare companies will have an exposure to these risks.

The ordinary General Liability coverage provides only actual physical damage or actual bodily injury. Nothing for the economic losses that can be suffered from media risks. A Multi-media liability cover is needed as well or if a Professional, cover broad enough in a Professional Indemnity policy which is extended to include defamation and breach of copyright.

These days this could mean nearly all companies can be exposed to these risks.