Today's newspaper publishing companies need protection that goes beyond traditional libel insurance. Chubb has teamed with Walterry Insurance Brokers to provide media liability insurance that gives newspaper publishers comprehensive coverage for risks arising out of gathering information and communicating that information to the public.
Media Liability Insurance coverage highlights:
- Coverage provided on an "open perils" basis. Traditional media liability insurance covers a finite list of "named perils" such as libel and slander. But Chubb's Media Liability Insurance policy provides coverage on an "open perils" basis, providing coverage for a much broader array of potential claims against publishers.
- Coverage extends to Internet-based publishing. Most publishers now have Web sites to complement their traditional print operations. With this additional communications vehicle, no news organization's media liability insurance is complete without this coverage.
- Defense costs in addition to limit of liability. Many media liability insurance policies include legal defense costs within the limit of liability. However, under our program, legal costs incurred in defense of a claim do not erode the policy's limit of liability.
- Policy written on occurrence form. As opposed to a claims made form, coverage is provided for a publication occurring during the policy period, even if the policy is subsequently cancelled.
- No aggregate limit. Many media liability policies contain an annual aggregate limit. Our policy provides a separate limit of liability for each occurrence, with no annual aggregate limit.
- Policy provides insured with discretion over settlements. The insurance company cannot settle any claim without the consent of the insured.
Walterry Insurance Brokers
Walterry Insurance Brokers acts as the program administrator for this program. Walterry has more than 25 years of experience insuring the media, presently insuring over 800 film productions, 350 broadcasting stations, and 1,900 newspapers. Walterry has many years of experience in the video and film industry and is endorsed by the National Newspaper Association and over 25 state and regional newspaper associations.
To obtain additional information on our Media Liability Insurance Program or to submit an application for coverage, please contact Walterry direct at: