Media Insurance FAQ

• At the minimum, media businesses need general liability insurance.
• If they have employees they will need workers compensation in most states.
• If they have vehicles registered to the business, or use vehicles for the business purposes, they will also need commercial auto.
• There are also other specialty coverages and endorsements that might be needed based on their operations.

The personal injury liability aspects of these operations render them ineligible for most businessowners policy programs. The commercial package policy is the primary means by which a number of different coverages needed by a media operation can be combined in one policy.

Professional liability coverages for these operations are normally written separately, on a monoline policy basis.

Types Of Media Package Policies:

• Commercial Package Policy (CPP)

A major part of insuring the property exposures for media operations is determining the types of property involved and the most appropriate coverage form to use. Personal property in some categories is better covered under inland marine forms than by property forms.

Time element exposures and available coverages should be reviewed carefully with an emphasis on possible extra expenses that must be incurred to continue operations and meet deadlines.

Types Of Property Coverages:

• Building
• Business Personal Property
• Personal Property of Others
• Improvements and Betterments

The commercial articles floater, scheduled property floater, and various electronic data processing forms and coverages are the primary inland marine coverage forms used for most media operations. Others may be appropriate, depending on the situation. Valuable papers and records coverage can be very important especially when archives are maintained.

Types Of Inland Marine Coverages:

• Accounts Receivable Coverage
• Bailee Customers Coverage
• Broadcasting Tower/Equipment Coverage
• Commercial Articles Floaters
• Difference in Conditions (DIC) Coverage
• Electronic Data Processing Equipment Coverage
• Film Coverage
• Fine Arts Coverage
• Scheduled Property Coverage
• Signs Coverage
• Theatrical Property Coverage
• Transportation Coverage
• Valuable Papers and Records Coverage

Employee theft is a major concern for any media operation because of difficulties in keeping track of valuable equipment and the need to trust employees to return property once they are finished with it. Employees of media businesses are potentially attractive targets for extortion, kidnap and ransom demands so those coverages should be seriously considered.

Types Of Crime Coverages:

• Computer and Funds Transfer Fraud Coverage
• Employee Theft Coverage
• Forgery or Alteration Coverage
• Inside The Premises-Theft of Money and Securities Coverage
• Inside The Premises-Robbery or Safe Burglary of Other Property Coverage
• Money Orders and Counterfeit Money Coverage
• Outside The Premises Coverage

Licenses and permits are required by most municipalities whenever filming takes place in public areas. There are also other bonds that are required to be posted in order to conduct operations.

Types Of Surety Coverages:

• License and Permit Bonds
• Miscellaneous Surety Bonds

Premises and operations exposures, at both owned locations and off site, may be minimal or very significant, depending on the particular media operation involved. Almost without exception, personal injury exposures are covered by a separate media policy.

Types Of Liability Coverages:

• Commercial General Liability (CGL) Coverage
• Employee Benefits Liability Coverage
• Employment-Related Practices Coverage
• Owners and Contractors Protective (OCP) Liability Coverage
• Special Events Liability Coverage

Owned automobile exposures can range from the very limited, such as a salespersons private passenger fleet, to those that include off-site broadcast vans and cable-laying trucks. All operations conducted must be evaluated in order to determine the needed coverages.

Types Of Business Auto Coverages:

• Auto Medical Payments
• Business Auto Coverage
• Collision Coverage
• Comprehensive Coverage
• Hired & Non-owned Auto Coverage (HNOA)
• Uninsured/Underinsured Motorists Coverage

Most employers are required by state statute to provide coverage with a workers compensation policy for injuries employees sustain on the job. Freelance workers are an important part of the media industry. These workers are considered independent contractors by the media organization and are not covered under workers compensation.

It is important that the relationships be very clear in order to avoid complications when an injury occurs.

Types Of Workers Comp Coverages:

• Excess Workers Compensation Self-Insurance Bonds
• Longshore and Harbor Workers' Compensation Act Coverage
• Stop-Gap or Employers Liability Coverage
• Voluntary Compensation Coverage
• Workers Compensation and Employers Liability Coverage

Excess liability coverage and limits are especially needed over the personal and advertising exposures of a media operation. Because media liability is often written on a claims-made policy, excess limits specific to that coverage are required

Types Of Excess Liability Coverages:

• Excess Liability Coverage
• Retroactive Excess Liability Coverage
• Umbrella Coverage

The insurance needs of any service business may go well beyond the coverages provided by standard industry coverage forms or policies. As an example, a number of service operations using drone technology as a part of the services they provide to their client. When coverages beyond the standard forms are needed, one or more of the following may be very important to a particular insured:

Types Of Specialty Coverages:

• American Expatriate Coverage
• Business Legal Expense Coverage
• Cable TV Liability Coverage
• Cyber Liability Coverage
• Data Security Breach Coverage
• Directors and Officers Liability Coverage
• Electronic Data Liability
• Fiduciary Liability (Pension, Welfare and Employee Benefit Funds) Coverage
• Identity Theft Insurance Coverage
• International Insurance Coverage
• Media/Communications Liability Coverage
• Risk Retention Group Liability Coverage
• Tax Liability Coverage
• Tender Offer Defense Expenses Coverage
• Terrorism Insurance Coverage
• Unmanned Aerial Vehicles (UAV) (Drones)
• Weather Coverage