Beazley to Offer Occurrence-Based Media Liability Policy for SMEs

Specialist insurer Beazley has launched an occurrence media liability policy designed to the risks faced by small to medium-sized media outlets and publishers in the United States.

Beazley’s media liability policy provides professional indemnity cover written on an occurrence basis. The coverage focuses on defamation, libel & slander and infringement of copyright & trademark and includes a raft of other content-related exposures. In addition, the policy includes unintentional breach of contract with a client, and mitigation costs (sub-limited) to minimize claims escalation.

The policy also provides optional coverage for technology errors & omissions; information security and privacy; and bodily injury or property damage arising out of the publication of content.

According to Angela Weaver, Beazley’s global head of media liability, the U.S. media sector is undergoing substantial changes, with the launch of new channels for publishing and broadcasting and the growing reach of bloggers, vloggers and social influencers. Freelance publishers and start-up media ventures can be held 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,” she said.

The new policy explicitly defines the breach of contract cover as well as more traditional media liability.

Beazley’s policy covers various professionals including publishers, broadcasters, authors / journalists, bloggers, vloggers, social influencers and content creators, as well as advertising producers and advertising agencies.

Limits of up to $5 million are available on a worldwide basis.

Leading the launch is Beazley’s team of private enterprise insurance specialists across the U.S., in addition to the London market-based media liability team.

Beazley plc is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America and Asia. Beazley manages six Lloyd’s syndicates and in 2019 underwrote gross premiums worldwide of $3,003.9m. All Lloyd’s syndicates are rated A by A.M. Best.

Beazley’s underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.