Posted on May 17, 2014
Film, television and radio production companies affect large populations of people with their messages and entertainment. Because of this broad reach, media outlets encounter the potential for lawsuits on a daily basis. Obtaining the right type of insurance to protect these organizations from liability requires proper knowledge as well as expert advice from professional insurance brokers who can guide these firms in which types of coverage will offer the most protection available in today?s marketplace.
TV and Film Errors & Omissions Insurance
Errors and omissions insurance for the television and film industry is for the most part a necessary requirement for doing business. Because these companies gather and provide information and entertainment to the general public, they always risk potential claims resulting from their actions. They also face possible allegations of trademark violations, failure to obtain consent or proper licensing. Errors and omissions coverage pays for legal defense for lawsuits, and if companies are found liable, will pay damages up to policy coverage limits.
Media Liability Insurance
Television and radio media companies face far greater risks than typical libel claims so media liability insurance is necessary to fully protect them from lawsuits associated with dissemination of news and information to the public. Media liability offers coverage differently than traditional named peril policies. Instead it covers on an open perils basis so that the protection will cover a broader range of claims made against media organizations. This coverage also protects TV and radio companies from liability resulting from internet publications as well. Media liability insurance pays legal defense costs, court judgments or settlements.
Film Production Insurance
Film companies also have insurance needs that require specialized forms of coverage unique to their industry. Some of these special insurance types include: