Professional liability insurance protects small businesses by covering legal defense costs, settlements, and judgments from client lawsuits claiming that work was unsatisfactory.
An oversight or mistake made by your media or advertising business could cause financial setbacks or reputational damage for your clients or your firm. If you miss a deadline or are accused of libel, it could result in a lawsuit. Media liability insurance, also known as professional liability insurance or errors and omissions insurance, can help pay legal expenses for lawsuits related to your professional conduct.
This policy provides liability coverage related to:
If a client thinks you made a mistake or alleges that your work does not meet certain standards, you could be accused of negligence. This accusation could result in an expensive legal battle, especially if a client claims your media or advertising business caused financial damage. Media liability insurance helps pay for your legal fees, even if you’re not at fault.
Project delays can have a significant impact on your client’s bottom line. If you are taken to court over a missed deadline, your media liability insurance policy could help pay for:
Normally covered under a general liability policy, advertising injuries are typically excluded from coverage for media and advertising professionals due to the nature of their work. Instead, media liability insurance (sometimes called communications liability insurance) fills this gap by providing advertising injury coverage for risks such as:
While media liability insurance covers several risks inherent in the media and advertising industry, it does not offer complete protection. Other policies that are important for graphic designers, social media and advertising agencies, PR firms, broadcasters, and publishers include:
General liability insurance: This policy can cover expenses related to third-party bodily injury or property damage, including medical bills and legal costs.
Workers’ compensation: Required in most states for businesses with employees, workers’ comp can cover medical expenses and partial lost wages if an employee is injured on the job.
Cyber liability insurance: If sensitive client data is stolen, you could be sued. Cyber liability insurance can pay legal costs related to data breaches.
Are you ready to safeguard your media or advertising firm with media liability or general liability insurance? Complete Insureon’s easy online application today. Once you find the right policy, you can begin coverage in less than 24 hours.