Most businesses have a digital footprint nowadays. As technology continues to develop, new business liabilities also develop. Media companies have specific risks. This includes broadcasters, advertising agencies, film producers, publishers and more. When choosing cyber insurance, media companies have to consider specific options for media liability.
Why Do You Need Media Liability Coverage?
Media liability coverage is customized to the needs of media companies. For instance, some of the risks to media companies include the following:
- Copyright infringement
- Invasion of privacy
- Breach of agreement
If someone files a lawsuit against you, media liability coverage will help cover the costs of settlements or judgments. Coverage may also cover most legal fees and defense costs that you might incur while fighting a lawsuit.
Keep in mind that it doesn’t matter if the lawsuit is unfounded. You still have to pay legal fees to fight against a frivolous lawsuit. Even unfounded suits can be devastating to your company. In addition to covering your company, you may also need to cover employees, contract employees, directors and officers.
Most media companies have a massive digital footprint. It makes sense that your company would need cyber insurance just like every other business. When you work in the media industry, however, you have very specific risks against your company that your insurance options must cover.
You can’t attend a classic car show without encountering at least one 1957 Chevrolet. These midcentury marvels are popular and sought-after by classic car collectors. Have you ever wondered what makes this particular vehicle so special? Here are the top three reasons collectors love the ’57 Chevy.
It seems that everything from long ago was built for beauty and function, and the 1957 Chevy was no exception. The Bel Air, along with Chevy’s more affordable options that year, was decked out in dazzling chrome, symmetrical design and sleek curves. These elements along with its age make it one of the more popular vehicles to be covered under classic car insurance.
The Bel Air came with an optional 283 cubic inch V-8 “Blue Flame” engine that made it powerful relative to its weight. It was a muscle car before there even were muscle cars, and collectors appreciate the vehicle just as much for what’s under the hood as they do for its classic style.
The tail fins, the round headlights, and the color options are all particular to the time and place where the vehicle was born. The tail fins were reminiscent of aircraft and made the trim popular with returning GIs who were enjoying the postwar economy that made it possible to own such a vehicle. In a sense, the vehicle embodied the prosperity and freedom that was the spirit of 1950s America.
Design trends are experiencing a midcentury revival of sorts in many different sectors. However, among all the iconic relics of that era, the 1957 Chevrolet has reached its zenith.
There are plenty of risks that come along with running a business that employs drivers. This is especially true when you transport cargo across vast distances. The longer a driver is working, the more he or she is at risk for a number of health concerns that the average employer doesn’t need to typically consider. However, failing to take these factors into consideration with your insurance can easily lead to some financial and legal setbacks down the line. Avoid disaster with these suggestions.
Nature and the Elements
After an employee has been behind the wheel for several days on open roads, truck driver sun damage is a very real concern. Though your insurance might be primarily focused around accidents and errors that can happen from the vehicle itself, the elements should always be taken into account. Not only is the skin susceptible to damage after prolonged exposure to sunlight, so are the eyes. Though polarized sunglasses help cut glare that reflects off windshields, it can take a toll. Your insurance plan should always include:
- Health coverage for drivers working long hours
- Insurance for the vehicle itself
- Coverage for cargo and goods
Many Risks To Consider
By taking several angles into consideration with your insurance, you are likely to feel more satisfied with the results. Look into your insurance options and help your drivers stay protected at all times.
Traditional insurance provides you with a lot of coverage options and peace of mind, but it’s not always the best fit for your business. Often, companies in specialized niches or those in small industries that are not well known have risks that large general insurance providers don’t anticipate. As a result, coverage that truly fits your needs can be tough to find. That’s where alternative risk services can provide you with the options you need, by offering you routes to risk management that sidestep traditional insurance policies.
Common Risk Management Alternatives
For some industries, professional bonds provide a backbone service that also functions as an alternative risk management strategy. If your industry doesn’t tend to use bonds, the most common types of alternative option are captive insurers and self-insurance plans. In both cases, you essentially fund your own insurance policy, so you can control the coverage and make it suit your actual risks. Captive insurers are often easier to fund as a small company, because you can partner with other businesses to split costs, but self-insurance plans offer more control.
Adjustable Premium Plans
Some insurers also offer loss-based plans that allow you adjust your premiums based on your actual losses during an insurance period. With these options in hand, it gets a lot easier to make sure you are fully covered against foreseeable risks to your business.
Volunteers can be just as valuable to an organization as paid employees. They can also pose just as much financial risk. Luckily, programs such as the nonprofit volunteer insurance coverage from VIS exist to protect organizations from loss. Here are some risks that volunteer insurance covers.
Insurance protects against financial loss when a volunteer is guilty of theft or dishonest representation of your organization. Without coverage, you could be held liable for missing funds or be required to pay court costs for litigation.
If a volunteer intentionally or unintentionally causes personal harm or property damage, volunteer liability insurance covers the costs. It also pays for legal representation of volunteers accused of sexual harassment or assault.
Medical treatments after a serious injury can be financially devastating for both the volunteer and the organization. Purchasing volunteer medical insurance is the best way to protect both parties.
Your organization risks liability whenever a volunteer drives to and from work or uses a personal vehicle for work-related activities. Excess automobile liability insurance provides coverage in case they are at fault in an accident.
You pour time, training, and energy into your volunteers. Be sure you also invest in the financial protection they need by providing volunteer insurance.
Every boat owner needs to be mindful of vessel pollution. Whether you’re a commercial vessel operator or you own a boat that you use for recreational purposes, pollution could pose a serious and costly problem.
Understand the Causes and Effects of Vessel Pollution
A leak can occur as the result of an accident involving negligence or a mechanical oversight, but it can also occur in the absence of any wrongdoing due to simple equipment failure. The most common forms of vessel pollution are oil and fuel leaks. Vessel operators have to take immediate action after a spill has occurred to mitigate the extent of the damage.
Protect Yourself From Liability
It’s imperative that vessel operators who are responsible for cleaning up after a spill have the resources to do so effectively. Cleaning up pollution in the water can be extremely labor-intensive, and the way that cleanups are conducted is subject to numerous regulations. An insurance policy that covers these types of events can help pay for cleanup and also cover third-party claims for vessel pollution liability.
If you need insurance to cover vessel pollution, reach out to an insurer that specializes in this area. They can help you build a policy that addresses your risk exposure and provide valuable guidance about how to manage a spill.
Are you feeling overwhelmed at the prospect of finding the right insurance solution for your needs? You’re not alone. A quick check of insurance companies in San Pedro reveals a broad array of insurance coverage types. Most people are familiar with the more common types of insurance, such as life, health, auto, homeowners, and renters coverage. However, there are far more offerings of insurance plans to be found.
It’s Not Personal, It’s Business
Business insurance can cover nearly every aspect of a company’s operations:
- Workers’ compensation insurance
- Commercial property insurance
- General liability insurance
- Key staff insurance
It’s Not Business, It’s Personal
If you’re interested in covering aspects of your personal life, there are insurance products for that as well:
- Disability insurance
- Long term care insurance
- Funeral or final expense insurance
It Isn’t Personal or Business — It’s Special
In addition to the types of insurance listed above, companies offer insurance products for a wide variety of specific needs, such as those identified below:
- Insurance for vehicles used in TV shows
- Insurance against being abducted by aliens
- Insurance for various body parts
There are dozens of scenarios in which the appropriate insurance coverage can provide peace of mind and financial protection. Insurance companies can help you in your search for the right product.
As a business owner, you are likely aware that you need a solid business owner’s policy. Another good type of coverage to have is a liability. General liability may be able to cover accidents on your property, but don’t stop there. Professional liability insurance can cover legal issues that occur when clients suffer negative effects from the advice or services you offer.
There are several ways that clients can lose money or suffer other damages as a result of the actions of your company. Professional liability insurance provided by Axis may cover some of the legal costs associated with various allegations:
- Good faith breaches
- Faulty advice
Professional liability not only protects your corporate assets but also your personal ones. By covering legal fees and possible damages awarded to the plaintiff, it protects you from having to dip into personal savings or take out a second mortgage on your home to pay these expenses.
When you are sued, that process can negatively affect your company’s reputation. With professional liability coverage, you can handle your legal problems more efficiently, protecting your company’s name in the process.
Having a great BOP is an essential expense, but adequate liability coverage can be just as important. When legal issues arise, you will likely be glad you have it.
Protecting your employees involves a few basics, such as strong safety protocols, workers’ compensation and good health insurance. Another way to take care of them is with group life insurance coverage.
Your insurance company may be able to design a group life plan that works best for your employees. According to www.moodyinsurance.com/, the two main options for a group policy are term and whole life. There are several questions you can ask your agent to find the coverage that works best for your company:
- How are the proceeds paid?
- Who covers the premium?
- What is the benefit amount range?
- Does the policy offer optional benefits?
When you offer life insurance to your employees, you send the message that you not only care what happens to them but also to their families. This can boost company morale, particularly if the work your employees do has the potential to put them in danger.
Life insurance benefits make you more attractive as a prospective employer. You are more likely to draw talented candidates. When they weigh competing offers, group life insurance coverage could put you at the top of the list.
Making sure that your employees and, by extension, their families are protected in the event of a tragedy has many benefits. Group life coverage helps you take care of the people who take care of your business.
The claims process for many liability insurance plans is limited to the reporting period for which the policy is written. Therefore, coverage could be extended to claims that are made within an active policy and denied if filed after the coverage period has expired. However, there are some industries or professions where claims may arise long after a policy has been active, leaving an individual or company responsible for the costs of resolution. Rather than take chances with this exposure, the team at https://www.huntersure.com/ recommends that those who purchase liability insurance strongly consider including prior acts coverage.
Understanding Prior Acts
Including prior acts in the policy allows claims to be made for insurable events even if the act occurred prior to the origination of the current policy. For example, a surgeon has just changed providers for his malpractice insurance. However, a claim arises from an incident that happened eight months ago. Prior acts coverage could allow the current policy to be retroactive in addressing the situation. Insurance providers will usually establish a retroactive date that determines how far back coverage may be extended. Coverage areas may include:
- Legal assistance cost
- Actual or simply alleged negligence
- Claims and damages
- Personal injury
The extent of a policy’s terms and coverage is determined by need and what the provider allows. If you are in the process of switching providers, don’t forget to check on potential prior acts inclusion.