Printers And Publishers Insurance Policy Information
Printers And Publishers Insurance. Printers and publishers publish a variety of items, such as advertising brochures, calendars, directories, greeting cards, pamphlets, product literature, and instructions relating to software and automation applications.
Some publishers specialize in providing services to a type of industry or client group, such as trade associations or travel organizations, while others offer services to the public.
Commercial printers and publishers in are responsible for producing copies or publications of their clients' valuable intellectual property. That's a pretty big responsibility. While you go to great lengths to ensure you deliver the highest quality results, errors can occur and uncontrollable circumstances can arise. When trouble strikes, you're liable for the damages.
How can you protect yourself from any issues that may arise? By making sure you invest in the right type of Printers and publishers insurance coverage. What kind of coverage do you need? Read on to find out some of the key policies printers and publishers need to carry.
Printers and publishers insurance protects your business from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked printers and publishers insurance questions:
- What Is Printers And Publishers Insurance?
- How Much Does Printers And Publishers Insurance Cost?
- Why Do Printers And Publishers Need Insurance?
- What Type Of Insurance Do Printers And Publishers Need?
- What Are Printers And Publishers Risks & Exposures?
- What Does Printers And Publishers Insurance Cover & Pay For?
What Is Printers And Publishers Insurance?
Printers and Publishers Insurance is a type of insurance that is specifically designed to protect printers and publishers from financial losses that may occur as a result of various risks such as property damage, liability claims, and loss of income.
This type of insurance typically covers a wide range of potential risks, including damage to printing equipment, loss of revenue due to production delays, and liability claims arising from errors or omissions in printed materials.
Additionally, printers and publishers insurance may also cover the cost of defending against legal claims and paying for settlements or judgments.
Overall, this type of insurance is essential for printers and publishers to protect their business from unexpected financial losses.
How Much Does Printers And Publishers Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small printing and publishing houses ranges from $27 to $59 per month based on location, services offered, payroll, sales and experience.
Why Do Printers And Publishers Need Insurance?
Printers and publishers need insurance for a variety of reasons. First and foremost, insurance provides financial protection in case of unexpected events or accidents.
For printers, this could include damage to equipment or machinery, as well as employee injuries or illnesses.
For publishers, insurance could cover legal liability in case of defamation or copyright infringement, as well as damage to physical inventory or loss of digital assets.
In addition, insurance can help protect against financial losses due to business interruptions or natural disasters. For example, if a printer's facility is damaged in a fire or flood, insurance can help cover the costs of repairs and lost income. Similarly, if a publisher's website is hacked or their digital assets are lost, insurance can help cover the costs of recovery and lost revenue.
Overall, insurance is an important risk management tool for printers and publishers. It helps protect against financial losses and allows businesses to continue operating smoothly, even in the face of unexpected challenges. So, it is important to have printers and publishers insurance to safeguard their business and their financial well-being.
What Type of Insurance Do Printers And Publishers Need?
The specific type of commercial insurance that printers and publishers need to carry depends on several factors; where your business is geographically located, whether or not you employ a staff, and the size of your operation, for example.
For those reasons, consulting with a reputable agent that has experience insuring professionals in your industry is important, but there are some key types of printers and publishers insurance coverage that should be considered. These policies include:
- Commercial General Liability - If a vendor slips and falls while making a delivery or a client claims you damaged their personal property, for example, commercial general liability insurance will protect you from the costs that are associated with these types of situations. For example, it will assist with the expenses that are associated with legal defense fees and medical bills that you're for.
- Professional Liability - If a member of your staff makes an error during the printing process or you fail to deliver the products that a client requested and paid for, professional liability insurance will cover the costs of any legal action that you may face.
- Workers' Compensation - Whether you employ a staff of 5, 50, or 500, you need to have workers' compensation insurance. As an employer, you're legally responsible for any work-related injuries or illnesses your staff may sustain; you're also responsible for replacing any wages employees may lose while they're recovering and unable to work. Workers' compensation insurance will pay for any medical bills and lost wages. If an injured or ill employee takes legal action against you, workers' compensation can also assist with the legal defense fees you may require.
- Commercial Property - This type of policy protects the physical aspects of your printing and publishing business, including the physical structure of your commercial space, as well as anything that's inside of it and just outside of the premises, including furniture, computers, outdoor signage, landscaping, and important documents, from numerous perils, such as fires, pipe bursts, explosions, storm damage, theft, and vandalism. Commercial property insurance will repair any damages or replace items that can't be repaired.
- Cyber Liability - A virus, hacker, or a glitch in your computer system can wreak havoc on your printing and publishing business. Such situations can halt operations and even lead to lawsuits, as the privacy of your clients, employees, vendors, and others can be compromised. Cyber liability insurance will protect you from the risks that are associated with cyberattacks, data breaches, viruses, and other computer- and cyber-related issues.
What Are Printers And Publishers Risks & Exposures
Publishing liability exposure is from publishing activities, including allegations of copyright infringement, libel or slander, defamation of character, invasion of privacy, failure to check the authenticity of the material, and breach of confidentiality. Contractual agreements with authors and graphic designers should be written and include verification of originality and authenticity. All copy, including changes, must be documented in writing before the run begins. All ad copy must be in writing from the customer with a sign-off.
Premises liability exposures are limited as visitors are generally restricted to designated waiting areas and offices. If there are tours or events on premises, slips and falls can be reduced through good housekeeping and maintenance. Floor coverings must be in good condition, with no cracks or holes. Steps and uneven floor surfaces prominently marked. There should be well-marked sufficient exits with backup lighting systems in case of power failure. Parking areas and sidewalks should be in good repair and free of ice and snow.
Fumes, dust, and noise may be nuisance hazards to neighboring properties. Off-premises exposures include employees visiting prospective and current clients. There should be procedures as to how they carry out their duties, particularly policies regarding entertainment.
Environmental impairment exposure is minimal if no printing is done by the publisher. If there is printing on premises, inks and solvents used may be toxic or corrosive and may contaminate the air, ground, or water. Spill procedures must be in place to prevent the accidental discharge of inks through the drains. Contracts should be in place to dispose of all environmentally dangerous chemicals in accordance with federal and state guidelines.
Workers compensation exposure may be limited to those of an office and warehouse if all publishing processes are handled by independent contractors. Repetitive motion injuries can be prevented with ergonomically designed workstations. Back injuries, sprains and strains should be controlled in the warehouse area by teaching proper lifting techniques and supplying dollies and forklifts for heavy items. If full press printing is used, hearing impairment from noise, foreign objects in the eye, and slips and falls are common. Equipment operators must be thoroughly trained. Machinery must have safety guards to prevent accidental injury to employees, such as cuts or crushing. The use of inks, solvents and other chemicals can result in eye injuries, respiratory problems, or contact dermatitis. Injuries can result from loading and unloading vehicles. Drivers of forklifts and vehicles may be injured in collisions.
Property exposures from fire depend on the processes handled by the publisher. If no printing is done on premises, exposures will be limited to electrical wiring, heating and air conditioning systems used in offices and warehouses for storage of combustible finished stock, which is susceptible to damage from fire, smoke, and water. Many publishers are now using computers to print their materials. Many others use independent printers.
If printing is done on premises, ignition sources may include overheating of presses, accumulations of dust from cutting operations, and flammable liquids and solvents. Electrical wiring must be well maintained and meet current codes for the occupancy. Flammable liquids should be stored away from processing machinery and finished items. There should be automatic shutoffs to prevent overheating. Without adequate ventilation systems, dust can explode and cause a fire. Flammable liquids should be stored away from the machinery with only one day's supply in the processing area.
Smoke detection and fire suppression devices are highly recommended. Finished items should be stored separately from raw materials and the processing area. Poor housekeeping may be a serious fire hazard. Unless disposed of properly, greasy, oily rags (such as those used to clean the machinery) can cause a fire without a separate ignition source. Refueling and recharging of forklifts should be limited to well-ventilated areas away from combustibles.
Smoking should be prohibited. Theft is a consideration due to the number of computers and printers on premises. Security should be appropriate to the area.
Business interruption exposures can be high if foreign-made or specialized printing presses are used due to the length of time needed for repairs or replacement. Publication dates set in contracts must be met. If a loss should occur, extraordinary expenses must be expended to meet these expectations.
Equipment breakdown exposures include malfunctioning production equipment, ventilation electrical control panels and other apparatus. A lengthy breakdown to production machinery could result in a severe loss, both direct and under time element.
Crime exposure is from employee dishonesty. Background checks, including criminal history, should be performed on all employees handling money. An effective check and balance system must be in place to prevent the creation of fraudulent vendors and siphoning off money into those accounts. Ordering, billing, and disbursement functions should be separate and monitored. Reconciliations should occur regularly, and audits conducted annually. Physical inventories of all equipment and stock should be conducted on a regular basis to prevent inventory theft.
Inland marine exposure is from accounts receivable if the publisher bills customers, computers (which may include computer-run production equipment), and valuable papers and records for artwork, contracts, copyrights, and manuscripts. All data should be duplicated with copies kept off site for easy replication in case of loss. Original manuscripts and other rare papers should be copied and stored in a separate area with specialized controls and security.
There may be a bailees exposure from art or manuscripts owned by others. Goods in transit is an exposure if the publisher delivers finished products to customers.
Commercial auto exposures may be limited to hired and non-owned for employees running errands. If the publisher picks up supplies or delivers products to customers, the exposure increases due to the potential for overturn and spillage. If vehicles are provided to salespersons, there should be a written policy on personal and permissive use. All drivers must have appropriate licenses and acceptable MVRs. All vehicles must be maintained with records kept at a central location.
What Does Printers And Publishers Insurance Cover & Pay For?
Printers and publishers can face a variety of lawsuits, including:
Copyright Infringement: Printers and publishers can be sued for using copyrighted material without permission, such as photos, text, or music. Insurance can help pay for legal fees and damages in such cases, subject to the policy limits and terms.
Defamation: Publishers can be sued for publishing defamatory statements that harm someone's reputation. Insurance policies such as media liability insurance can help pay for legal costs and damages associated with defamation lawsuits.
Product Liability: Printers can be sued if their products, such as printed books or magazines, cause harm to consumers. Product liability insurance can help cover the costs of legal fees, settlements, and judgments in such cases.
Negligence: Printers and publishers can be sued for negligence if they fail to meet the industry standards or fail to deliver products on time or in good condition. General liability insurance can help pay for legal fees, damages, and medical expenses associated with such lawsuits.
For example, suppose a printer is sued for copyright infringement for using an image without permission. Their insurance policy can help pay for the legal fees and any damages awarded to the copyright holder.
Similarly, if a publisher is sued for defamation, their media liability insurance policy can help cover the costs of defending the lawsuit and any damages awarded to the plaintiff.
In a product liability case, suppose a book printed by a publisher causes harm to a reader due to a printing defect. The publisher's product liability insurance policy can help pay for the legal fees, settlements, or judgments related to the case.
Lastly, suppose a printer is sued for negligence for not delivering products on time, and the plaintiff incurs medical expenses due to a delay in receiving the printed materials. The printer's general liability insurance policy can help pay for the legal fees and any damages awarded to the plaintiff.
In each of these scenarios, insurance can help protect printers and publishers from financial losses associated with lawsuits, subject to policy limits and terms.
Commercial Insurance And Business Industry Classification
- SIC CODE: 2741 Miscellaneous Publishing
- NAICS CODE: 511140 Directory and Mailing List Publishers, 512230 Music Publishers, 511191 Greeting Card Publishers, 511199 All Other Publishers
- Suggested Workers Compensation Code(s): 8810 Clerical Office Employees NOC, 8742 Salespersons or Collectors - Outside, 4299 Printing
Description for 2741: Miscellaneous Publishing
Division D: Manufacturing | Major Group 27: Printing, Publishing, And Allied Industries | Industry Group 274: Miscellaneous Publishing
2741 Miscellaneous Publishing: Establishments primarily engaged in miscellaneous publishing activities, not elsewhere classified, whether or not engaged in printing.
- Atlases: publishing and printing, or publishing only
- Business service newsletters: publishing and printing, or publishing
- Calendars: publishing and printing, or publishing only
- Catalogs: publishing and printing, or publishing only
- Directories: publishing and printing, or publishing only
- Globe covers (maps): publishing and printing, or publishing only
- Guides: publishing and printing, or publishing only
- Maps: publishing and printing, or publishing only
- Multimedia educational kits: publishing and printing, or publishing
- Music, sheet: publishing and printing, or publishing only
- Patterns, paper, including clothing patterns: publishing and printing,
- Race track programs: publishing and printing, or publishing only
- Racing forms: publishing and printing, or publishing only
- Shopping news: publishing and printing, or publishing only
- Technical manuals and papers: publishing and printing, or publishing
- Telephone directories: publishing and printing, or publishing only
- Yearbooks: publishing and printing, or publishing only
Printers And Publishers Insurance - The Bottom Line
Commercial printers and publishers insurance can help increase your businesses security, productivity, stability and also allow you to attract more clients.
Additional Resources For Advertising, Marketing & Media Insurance
Learn about small business media liability insurance - a specialized form of professional liability insurance that provides protection for legal claims brought by third parties.
- Advertising Agency
- Book Publishers
- Call Center
- Direct Mailing Services
- Graphic Arts
- Graphic Designers
- Magazine Publishers
- Market Research Firm
- Marketing Consultant
- Podcast Insurance
- Printers & Publishers
- Public Relations
- Radio Stations
- Search Engine Services SEO
- Social Media Consultant
- Television Stations
The advertising and marketing industry is a fast-paced and constantly evolving field that involves creating and promoting products or services to consumers. This industry is constantly trying to stay ahead of trends and attract new customers, and as a result, it is prone to risks and uncertainties.
One of the biggest risks that the advertising and marketing industry faces is the potential for legal disputes. For example, a company may be sued for false advertising, copyright infringement, or for using someone else's intellectual property without permission. These types of legal disputes can be costly and time-consuming, and they can damage a company's reputation.
Business insurance is an important tool for protecting businesses in the advertising and marketing industry from these types of risks. Insurance can provide financial protection in the event of a legal dispute, which can help a business to avoid financial ruin. Additionally, insurance can help to protect a business's reputation by helping to manage the cost and impact of any negative publicity.
In addition to legal risks, the advertising and marketing industry is also at risk of financial losses due to errors and omissions. For example, a marketing campaign may not be successful, or a company may make a mistake in the production or distribution of a product. These types of errors and omissions can be costly, and insurance can help to protect a business from these types of losses.
Overall, insurance is an important tool for protecting businesses in the advertising and marketing industry from the various risks that they face. It can provide financial protection in the event of legal disputes or financial losses, and it can help to protect a company's reputation and financial stability.
Minimum recommended small business insurance coverage: Building, Business Personal Property, Business Income with Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Bailees' Customers, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Professional and Advertising Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Earthquake, Equipment Breakdown, Flood, Computer Fraud, Forgery, Special Floater, Cyber Liability, Employment-related Practices Liability, Business Automobile Liability and Physical Damage, Foreign Automobile Liability and Physical Damage, Foreign Workers Compensation, Repatriation Expense and Stop Gap Liability.