For your business best protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!
Media companies sometimes make mistakes when reporting information about individuals and businesses.
When that occurs, they become liable for negligence and defamation. Such risks can significantly harm their business's reputation and finances. That's why they need media liability insurance coverage.
If someone sues you for an advertising campaign, social media post, or website post, your multimedia liability insurance can cover legal fees and settlement costs. Stay and learn how the policy works, how much it costs, and where to get the best coverage.
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Media liability coverage is a specially written type of media insurance E&O coverage designed for media professionals. Media professionals are highly exposed to lawsuits as published works can be easily checked by someone and reported to concerned parties.
Typically written on a claims-made basis, media liability provides financial coverage in situations such as:
Defamation - You've made an editorial article about a public figure and are accused of including defamatory remarks in your writeup
Copyright infringement - You're running an advertising agency and are accused of copying some elements of another agency's advertisement
Plagiarism - You're a blogger and are accused by another blogger of copying a travel blog post he or she published a few years ago
So long as you're a media professional - whether a blogger, advertising agency, digital marketing company, social media influencer, or news publisher - a time will come when you'll need to purchase media professionals insurance. Some of these policies are specific to the media expert. For instance, an influencer will require social media liability insurance, while a blogger will need electronic media liability insurance.
While you might have the right media perils insurance, alleviating negligence to avoid claims is your best defense. The last thing you want is to be the defendant in a legal process because of copyright or defamation. It’s best to establish a comprehensive approach for all your media. Let your employees understand media guidelines to avoid trouble.
Media professional liability insurance is a coverage designed for media experts who create and publish content; or offer media consultancy. The coverage provides comprehensive protection against claims that result from violation of good faith, misrepresentation, or inaccurate advice.
Media professional indemnity insurance is sometimes packaged with commercial general liability (CGL) coverage, which protects media experts and organizations from false advertising or advertising injury lawsuits.
So how is CGL for media professionals different? In the media space, CGL doesn’t cater to situations where there’s negligence, violation of good faith, misrepresentation, or inaccurate advice. It only caters to claims associated with false advertising and other types of reputational harm.
But note that CGL and professional liability are the same in terms of what they pay for. Like CGL, media professional liability insurance covers the following:
Compensatory payments in case the third - party wins the case
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An advertising, publishing, or broadcasting agency has a complex cybersecurity system. But the more thorough they mitigate cyber threats, the more sophisticated the attacks. A data breach can be costly, especially if you store credit card details and other confidential consumer information. That's why you need cyber media liability insurance.
The insurance pays for any legal fees and prevents business losses arising from:
Phishing - Someone in your company received an email containing a link, which when clicked, allows the hacker to gain access to sensitive data stored in your database
Data breaches - A hacker gained access to your database completely then stole and erased sensitive data in your care
| Cost of Damage |
---|---|
MITM | $83,000 - $121,000 |
Phishing | $1.8 million (according to a data in 2015) |
Data Breach | $4.24 million |
The first-party cyber media liability insurance covers cyber-attacks within the policyholder's organization. The policy covers costs related to:
Credit monitoring - Helps you pay for costs if you need to hire finance professionals to help track what you’ve lost during the breach
Customer notifications - Helps pay costs if you need to hire another company to help you notify customers about the breach
The third-party media liability cyber coverage is designed for businesses that store sensitive client data. If a client's information is breached and they file a claim against you, the insurance can cater to:
Legal costs - Helps pay for lawyer fees, payments to witnesses, and other costs if a concerned stakeholder files a claim against your business due to the breach
Compensation fee - In case you lose the lawsuit, the policy will help you pay the amount the aggrieved party wants you to pay
Errors and omissions (E&O) coverage is written to protect media companies from client claims due to unsatisfactory work. A simple mistake by a media or advertising agency can send the business into a financial plunge. It's critical to budget for E&O coverage as it takes care of the legal expenses related to professional misconduct.
Typically, media errors and omissions insurance covers the following:
Mistakes and oversights
Advertising damages, such as slander and libel
Missed deadlines
Liability exposure and risk of legal action are some concerns that professional writers must consider. They must know where these risks stem from and avoid legal implications and related costs. Professional writers are often exposed to four main risks:
Defamation - As an author, you unintentionally offended a particular person, a specific group of people, or an organization with the statements you’ve made in your book or novel
Copyright infringement - You’re accused of copying the theme of another person’s book or novel
Plagiarism - You’re an author of a research paper and are accused of using another person’s findings without proper attribution
Here's a table that shows how much authors pay if ever they get involved in defamation, copyright infringement, and plagiarism:
| Cost |
---|---|
Copyright infringement | $850 - $4,000 per infringement |
Defamation | $7,000 (legal fees only) |
Plagiarism | $110 - $3,421 |
While a publisher's liability insurance may cover most of the costs related to lawsuits and settlement of damages, a publisher may require an author to compensate them for the deductible, which can reach six figures. Obtaining media liability for authors protects you from work-related risks and publishers' reimbursement, giving you peace of mind in the event of a third-party claim.
Copyright infringement insurance is meant to cover media professionals, such as advertisers, for unintentionally copying another company's or brand's creative content when promoting their business. A trademark infringement coverage policy is usually part of CGL insurance, providing financial cushioning when another party takes legal action against you for unwillingly using their intellectual property (brand name or logo) to further your business interests.
Nonetheless, it's worth noting that trademark infringement insurance does not cover intentional acts of infringement. The breach of copyright must be accidental. Additionally, this insurance policy doesn't cover patent infringement. The extent of protection depends on the details outlined in your CGL coverage's advertising injury clause.
There's no standard price for media liability insurance because many factors come into play. Examples include your company's location, level of risk, and the type of sector you operate in.
Many media and advertising agencies pay $35 in monthly premiums or $415 per year. Media liability insurance p olicy limits typically range from $500,000 to $1,000,000. A $500,000 custom limit is already enough.
However, as your business grows, it would be best to consider increasing your limit. There are carriers that offer a $100 million policy limit, especially to large businesses in the media industry.
So that you understand more about the cost of media liability insurance, we’ve made this table showing the pricing of the carriers offering the best coverage:
| Cost per Month | Cost per Year | Best for |
---|---|---|---|
CoverWallet | $34 | $408 | Media liability insurance quotes comparison online |
Thimble | $40 | $480 | Short-term media professionals insurance by the hour, day, week, or month |
Hiscox | $54 | $648 | Media liability insurance underwritten by a company with a considerable experience |
Chubb | $56 | $672 | High-net-worth media companies |
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When purchasing insurance, media professionals have a wide range of options when it comes to media liability insurance carriers. The primary concern is identifying the best insurance company that can tailor its policies to meet your specific needs. Below are four top media liability insurance providers.
Provides free quotes
Easy to use
All policies are well-organized in one location
Huge discounts on online purchases
Not an insurance carrier, but a broker selling the media liability quotes of its partners
An AON subsidiary, CoverWallet uses modern technology to help media professionals understand and purchase liability insurance and conveniently manage their insurance plans while making significant savings through its online platform. The company offers professional liability, general liability, commercial liability, and tailored plans to meet a media representative's needs.
CoverWallet provides clients with MyCoverWallet Dashboard to help with policy management. With it, the company streamlines your claims filing processes and provides step-by-step guidance if need be.
Best for : Media liability insurance quotes comparison online
Average cost : $34 per month
Our rating: 10/10
Cheap short-term media liability coverage for independent and freelance media professionals
Media liability can automatically included general liability and professional liability
Media liability excludes breach of contract
Thimble offers media liability insurance policy for journalists, bloggers, publishers, marketers, and influencers. Coverage isn’t only for those employed but also for independent professionals and freelancers. Moreover, Thimble’s media liability insurance application isn’t complex. All that the customer has to do is provide details and coverage will be granted quickly.
Best for: Short-term media professionals insurance by the hour, day, week, or month
Average cost: $40 per month
Our rating: 9/10
Quick access to online quotes and policies
Clients can purchase insurance policies throughout the US
Online claims filing
Lacks BBB accreditation
Mixed customer feedback
Hiscox is a nationally acclaimed specialty insurance company. It boasts a portfolio of 12+ insurance products, including media liability insurance, E&O, entertainment production risks, cyber & data security, and general liability coverage. The company is part of Hiscox Group, a company with 100+ year tenure in the insurance sector, and clients are guaranteed to get quality coverage.
Best for: Media liability insurance underwritten by a company with a considerable experience
Average cost : $54 per month
Our rating: 8/10
Generous coverage and benefits for high-end clients
Few customer complaints
Reduced focus on cheap insurance
Chubb is an excellent carrier if you're a media professional who doesn't mind paying a high amount for media liability insurance coverage for excellent service. Established in 1882, the company has expanded its insurance products to cover virtually every risk media professionals face.
They include "All Risk " coverage for protection against specified perils, built-in coverage for advertising, negligent publication coverage, punitive damages coverage, internet liability, etc.
With Chubb, media professionals can access coverage for creations and acquisitions lasting 90 days with the option to extend their coverage.
Best for : High net worth media companies
Average cost : $56 per month
Our rating : 8/10
Those making money through Youtube, Tiktok, and Facebook by posting videos can benefit greatly from media liability insurance. If you’re a vlogger, know that this policy will help you pay for costs if ever someone accuses you of copying their work or using information that came from someone without any attributions.
The quick answer is no. You only need to get media liability insurance to have protection. However, if you want more protection, then we recommend you get general liability insurance too. But understand that for it to be useful, you need to include advertising injury coverage.
What’s covered and not covered by media liability differs from carrier to carrier. The same is true for how much insurance money you’ll get. Be a smart buyer. Get the best coverage by comparing quotes. To compare media liability insurance quotes, click the "Get Quotes " button on this page and instantly get the offers and the corresponding estimated premiums of top insurance carriers.
This company does not care about the people they insure or the people that work for the company. They do stupid meets all day long about quality on calls while injured workers sit in pain waiting for answers but can never get to anyone to help them. This company hires uneducated people to run the company so that nothing important get done. I have heard so many stories about injury workers having bad service. They can’t never get their claims adjuster on the phone and the doctors that this company tells people to go to do not care about their patients causing their injuries to become worse. This company neglect on taking care of people’s injured employees have caused people to end up with disabilities for the rest of their life. if you get insurance under this company you will end up having to hire a lawyer to fight them in court. Do not get a policy with this company. Your employees will pay the price and so will the owners of the company. Honestly they need to get shut down. Avoid at all cost do not get this insurance and do not work for this company.
Terrible customer service. I got this insurance for my Amazon store when I ran one, took a break and cancelled all my subscriptions. I called these guys and they recommended sending an email. They never responded and have been charging me since then. Definitely going to dispute via the bank. Hate when businesses take advantage of other small businesses for their own gain.
I purchased a year long policy for my small business I paid for the year up front. First they sent me the incorrect paperwork and acted as if I had something to do with the mistake. About three weeks later I received a bill for the policy. I then sent countless email as the payment did clear my account. About a week later I'm told they have no record of my payment. Now I have to send any documents proving I said then. It went on for weeks. More requests of proof from this person then another. Every conversation had an under lying tone of me being dishonest. Finally I just gave up with them and filed a despite with my bank which took all of three days.. So now I'm continuing to receive emails that my policy is past due and will be cancelled. Funny, I was told I didn't have a policy because they couldn't locate it.
Purchased the General Liability policy I needed to fulfill a contract for my hiring party. Simply Business made it very easy to complete an application and review multiple quote options. Ended up purchasing a policy for 1/2 of what I originally was told by my agent.
I insured my small business with them from early 2016 to January 2022. I had a workman's compensation policy with them the entire time for my staff of approximately 10 people which fluctuated up and down minimally over the years. We ran a very safe operation and never had so much as one claim. I sold my business in early 2022 and cancelled my policy which triggered a final audit of $2871.00 which was owed back to me. Of course I dissolved my LLC immediately after selling the business and thus closed my bank checking account at the advise of my accountant. Though my name was on the business policy, Employers Preferred Insurance Company refused to issue a check to me directly as the policy holder due to...you guessed it, policy. Long story short, if you sell your business keep a small amount deposited in the checking account because it's almost a guarantee that companies such as Employers will use their policy to weasel their way out of money owed after the dissolution of a business. I should have known that I would be treated a just another number shortly after I signed with them as the sales agent just disappeared after I was set up for an online account to manage my policy. My next business venture will entail me working with an actual insurance agent who has an office in an actual brick and mortar building!