What is media liability insurance?
Websites, blogs, social media – they're part and parcel of business today. But the sheer proliferation of media means the chance of making a mistake is greater than ever. And if that happens, your business could be liable.
Media liability insurance – sometimes called errors and omissions or E&O for short – protects you for negligence in your own media content and advertising, including websites, blogs and social media. So you can rest easy knowing if that post backfires, any legal fees and compensation costs will be covered.
Our E&O is designed for the unique needs of media and technology businesses, protecting you for infringement of intellectual property, breach of confidentiality or right to privacy, and breach of comparative advertising regulations.
Who is media liability insurance for
In one way or another, almost all digital businesses are producing and broadcasting or publishing media content. Just by using a blog, Twitter, Facebook or YouTube account, your business could face claims for slander, breach of copyright or making false or misleading statements.
If you're a media producer, broadcaster, distributor or publisher then media liability insurance is essential.
What are the risks
Hardly a week goes by without another social media or advertising #fail hitting the headlines. It's perhaps not surprising that libel actions linked to Facebook and Twitter posts continue to rise.
But social media isn't the only risk. What if a competitor alleges that you make unfair comparisons to their product on your website? Or you accidentally used a stock image without a license? Your business could be required to pay compensation, incurring heavy legal costs along the way.
Things you can do
Even with D&O protection, avoiding a claim in the first place is your best defence. Nobody wants to face the stress and reputational damage of the law courts.
So make sure you have comprehensive approval processes in place for all media content. It should be checked and double-checked before going live. Social media guidelines can also be useful to ensure all employees know the rules and what to look out for.