Beazley rolls out new media liability coverage for US media SMEs

Beazley | June 12, 2020

Beazley rolls out new media liability coverage for US media SMEs
  • Beazley has announced the launch of a new occurrence media liability policy that covers many risks faced by small to medium-sized media outlets and publishers in the US.

  • Beazley’s new policy provides professional indemnity cover written on an occurrence basis.

  • In addition, the policy offers optional coverage for technology errors and omissions, information security and privacy, and bodily injury or property damage.


Specialist insurer Beazley has announced the launch of a new occurrence media liability policy that covers many risks faced by small to medium-sized media outlets and publishers in the US.

“The media landscape has changed considerably in the last decade,” Beazley said. “As traditional publishing and media groups have moved increasingly online, freelancers who solely publish online, including bloggers, vloggers and social influencers, are growing in number and reach. As the public looks to a wide range of sources for content, the media sector has become more crowded and awareness of the risks associated with publishing varies widely.”


Read More: Worldwide Facilities Makes Its First Step In Health Market By Acquiring Strategic Underwriting Solutions


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

In addition, the policy offers optional coverage for technology errors and omissions, information security and privacy, and bodily injury or property damage arising out of the publication of content.


The US 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 ought to be aware that they are as 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.

- Angela Weaver, global head of media liability for Beazley.


Read More: Vertafore Unveils New InsurTech Solutions To Automate and Simplify Insurance


The new policy covers various media professionals including publishers, broadcasters, authors and journalists, bloggers, vloggers, social influencers and content creators, and advertising producers and advertising agencies. Limits of up to $5 million are available on a worldwide basis.


About Beazley

Beazley plc is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America, Asia and Australia. Beazley manages six Lloyd’s syndicates and, in 2017, underwrote gross premiums worldwide of $2,343.8 million. All Lloyd’s syndicates are rated A by A.M. Best. In the US, our underwriters focus on writing specialist insurance products in the admitted market, backed by Beazley Insurance Company, Inc., an admitted property/casualty carrier in all 50 states; and surplus lines risks, backed by the Beazley syndicates at Lloyd’s. Beazley Insurance Company, Inc. is rated A by A.M. Best.

Spotlight

The Insurance Barometer is an annual study that tracks the perceptions, attitudes, and behaviors of consumers in the United States. We seek to understand their financial concerns and how they think and act with regard to financial products, with a particular focus on life insurance. In January 2017, LIMRA employed an online panel to survey adult consumers who are financial decision-makers in their households. Responses were received from 2,031 individuals.

Related News

Shift Technology Supports Central Insurance’s Fraud Detection and Subrogation Initiatives

Cision PR Newswire | September 01, 2020

Shift Technology, a provider of AI–native fraud detection and claims automation solutions for the global insurance industry, and Central Insurance today announced that Shift will support Central Insurance's fraud detection and subrogation initiatives. As a result, Central Insurance will deploy Force, Shift's fraud detection solution to uncover suspicious behaviors in the insurer's auto and property claims processes. The insurer will also use the technology to identify more quickly and accurately those property claims appropriate for subrogation recovery. In business for more than 140 years, Central Insurance has built a reputation for integrity, exceptional customer relationships, and operational excellence. A strong belief in applying both innovative approaches and cutting-edge technology to best meet customer and business requirements has long been a hallmark of the carrier. Recognizing that applying analytics and artificial intelligence to the claims process plays a key role in delivering on its promises to customers, Central Insurance turned to Shift Technology and its fraud detection and subrogation solutions.

Read More

CORE INSURANCE

Wright National Flood Insurance Company announces agreement with Westfield

Westfield | December 30, 2021

Wright National Flood Insurance Company, the nation's leading provider of federal flood insurance, has announced an agreement to acquire the flood insurance policy book from Westfield Insurance Company ("Westfield"). Wright Flood will service, administer and issue flood coverage under the National Flood Insurance Program for Westfield policyholders and agents. Additionally, Wright will also assume the servicing of Westfield's private flood business. Wright Flood has more than 40 years of experience exclusively in the flood insurance industry. It is widely recognized for its experience, claims response and long-standing commitment to partner with agents and policyholders, especially at the time of a flood loss. Wright Flood takes pride in user-friendly technology, exceptional claims reputation and providing service clients deserve. Patricia Templeton-Jones, the president of Wright National Flood Insurance Services, said she is excited about the partnership with Westfield agents. "Westfield has provided flood coverage solutions for the past 20 years for its agent partners and policyholders. We look forward to continuing their long history and providing their agents with our experience in the flood insurance industry, Since the inception of the National Flood Insurance Program, Wright Flood has been a premier provider of NFIP flood coverage and private flood options for homeowners and business owners." -Templeton-Jones. "Wright has a well-established reputation of providing excellent service to customers and agents, especially at the time of a flood loss. We are confident customers will continue appreciating the peace of mind that comes with having flood coverage," - Craig Welsh, Westfield's chief distribution officer. Beginning in early 2022, Wright Flood will manage Westfield's NFIP flood placements. All new policies and renewals will be issued by Wright National Flood Insurance Company, which is A.M. Best rated as A- (Excellent) for financial strength. For retail agents accessing flood coverage through Westfield, there will be minimal change in the process to continue to provide NFIP flood insurance coverage for policyholders. Wright and Westfield representatives together will be in contact with their agents. About Wright National Flood Insurance Company Wright National Flood Insurance Company, the largest flood insurance provider in the nation, offers federal, excess and private flood insurance with leading industry expertise, rated A- (Excellent) by A.M. Best. Wright Flood takes pride in user-friendly technology, exceptional claims reputation and providing service clients deserve. About Westfield Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Today, as one of the nation's leading property and casualty (P&C) companies, we remain true to their vision and are dedicated to making a positive difference in our customers' lives.

Read More

CORE INSURANCE

Hub International Acquires the Insurance Brokerage Assets of the Pete Webb Agency in Virginia

Hub International Ltd | July 12, 2021

Hub International Limited (Hub), a leading worldwide insurance brokerage and financial services company, announced the acquisition of Pete Webb Agency's insurance brokerage assets. The transaction's terms were not revealed. Pete Webb, the owner, formerly worked for Nationwide Mutual Insurance Company (Nationwide), which has now moved to an independent broker model. Pete Webb Agency, located in Fredericksburg, Virginia, offers personal and commercial insurance services such as home, car, life, and business. This addition enhances and strengthens Hub's personal insurance services. Since 2019, Hub has added over 20 agencies that were previously exclusive Nationwide agents before becoming independent. Mr. Webb and his staff will join Hub Mid-Atlantic while operating from their present site in Fredericksburg. About Hub's M&A Activities Hub International Limited is dedicated to expanding its global presence and strengthening the industry and product expertise through organic and acquisition growth. About Hub International Hub International Limited, headquartered in Chicago, Illinois, is a major full-service worldwide insurance broker and financial services company offering risk management, insurance, employee benefits, retirement, and wealth management products and services. With over 13,000 employees in locations throughout North America, Hub's vast network of experts provides clarity to a changing world via tailored solutions and unwavering advocacy, ensuring customers are prepared for the future.

Read More

Spotlight

The Insurance Barometer is an annual study that tracks the perceptions, attitudes, and behaviors of consumers in the United States. We seek to understand their financial concerns and how they think and act with regard to financial products, with a particular focus on life insurance. In January 2017, LIMRA employed an online panel to survey adult consumers who are financial decision-makers in their households. Responses were received from 2,031 individuals.