Online Media, Marketing & Entertainment | GB&A

Online Media, Marketing & Entertainment

As an online content provider, you operate in a slightly different risk landscape. Most of that risk may revolve around media & publishing liability but extends well beyond. The exposures needing to be addressed will vary, depending on the type of content, media, demographic and website features to name a few. A membership based health and lifestyle blog geared towards the elderly, has very different exposures than that of an online educational media platform for children. While libel/slander and IP related claims such as copyright infringement are almost always a concern, content providers must also consider their additional exposures including:

  • 1st and 3rd party financial losses resulting from “downtime” due to breaches and ransomeware attacks
  • Advertising laws, FTC oversight and OECD guidelines for consumer privacy/protection
  • Transmission of viruses to clients
  • Cyber exposures created by membership based models and storage of personal information
  • Lawsuits from advertising clients alleging misrepresentations 
  • Lawsuits from investors and VC/PE firms alleging mirepresentations

Industry trends magnify these exposures. Privacycon demonstrates the regulatory scrutiny and contentious debate surrounding acceptable behavior and best practices involving the collection (and use of) customer data. The reliance on analytics and automated marketing platforms invites the potential for additional litigation from dissatisfied clients due to decreased returns. And as companies continue to expand their operations and branch out from more traditional based content models, the definitions of “online media” and “content providers” will become more blurred, creating new layers of risk. Our knowledge of professional, executive and cyber insurance helps us educate our clients while addressing the challenges they face. 

Risk Profile

The risk profile below is an outline of your company's core exposures. Click to learn more, and select your coverages of interest to begin building your insurance portfolio or click "Connect With A Broker" to contact us.

  • Commercial Liability & Property

    Commercial liability packages (sometimes referred to as CPP's or BOP's) provide balance sheet protection in the form of financial reimbursement and liability protection in the form of coverage for defense costs and damages resulting from:

    • Claims asserting bodily injury and/or property damage
    • Product liability claims (unless excluded)
    • Advertising Injury such as libel, slander and infringement related claims 
    • Theft and property damage losses for inventory, business property, machinery, etc
    • Loss of business income
    • Equipment breakdown
    • Key Broadening endorsements (Transit coverage, basic cyber, employee dishonesty, ERISA, basic EPLI, and more)

    Due to the fact that endorsements can either broaden and extend coverage or limit/exclude coverage, policies should be carefully reviewed. Seemingly small endorsements such as “selling price” endorsements and business income coverage for dependent properties (such as suppliers, retailers and leaders) can provide substantial coverage enhancements. Due to the advertising risks faced by this sector, it is also often wise to seek coverage through a carrier that has a strong reputation for advertising coverage.

  • Technology Professional Liability (E&O)

    Professional Liability insurance (also known as errors & omissions) provides liability protection for lawsuits brought by clients or 3rd parties asserting financial damages resulting from errors, acts or ommissions in providing services and claims asserting failure to perform or deliver. E&O provides defense costs, damages, and other costs associated with resulting claims and litigation. E&O is a critical insurance component for companies in the financial, professional services or technology sectors. 

  • Employer's Liability & Workers Compensation

    Workers Compensation insurance is a mandatory coverage for companies with employees (including volunteers, uninsured independent contractors, leased or part time labor). It provides coverage for employees’ wages and medical payments resulting from injuries sustained while “on the job”. Coverages to consider include “broad form all states” coverage and foreign workers compensation coverage (especially important for employees traveling abroad for business). Additional employee related coverages that should be considered include: 

    • EPLI/Employment liability (protection for the hiring/firing of employees and discrimination/harassment related claims)
    • Employee benefits
    • ERISA/Fiduciary coverage (for the administration of employee benefits)
    • Long term disability
    • Kidnap & Ransom (for employees traveling abroad for business)
  • Directors & Officers (D&O) and Employment Liability (EPLI)

    Directors & Officers insurance provides:

    • Direct Protection for individual directors and officers 
    • Balance sheet protection in the form of reimbursement to the entity itself for indemnifiable claims against the directors or officers
    • Protection for claims asserted against the entity itself

    Claims are often asserted by shareholders, investors, employees, creditors, competitors and regulatory agencies and can include:

    • Claims asserting misrepresentations made in private placement memorandums
    • Breaches Of Fiduciary Duties
    • Anti Trust & False Advertising Claims
    • Bankruptcy and creditor claims
    • Accusations of Fraud

    Additional optional coverage components include:

    • EPLI/Employment Liability: Provides protection for the hiring, firing and management of employees. Such claims can include wrongful termination, failure to hire/promote, harassment, discrimination, and retaliation. Optional coverage for claims asserted by non employees (such as clients, visitors and vendors) can also be included
    • Crime & Employee Dishonesty: Protection for the entity against theft, fraudulent invoicing schemes, warehouse theft, social engineering, etc.
    • Fiduciary Liability: Protection for the directors & officers assets against losses caused to employee benefit plans
  • Cyber Liability & Data Security

    Cyber Liability insurance provides

    • First Party coverage in the form of balance sheet protection for damages sustained by the entity including: lost income and restoration costs, notification and credit monitoring costs, costs related to extortion demands, and more
    • Third Party liability protection for claims and lawsuits arising from: failure to protect from (or prevent) an intrusion or transmission of a virus or attack, regulatory actions, media related liability, claims asserting breach of intellectual property and more.

    Claims can arise from

    • Data Breaches, viruses and unauthorized access 
    • Lost or stolen laptops and lost or stolen paper records
    • Transmission of a virus to others
    • Rasomware and extortion demands
    • Media related liability
    • Clerical and human errors in opening or transmitting files
    • Payment processing and POS terminals
  • Employee Theft & Crime

    Crime & fidelity insurance provides protection for the entity against financial losses resulting from crime, theft and dishonest acts committed by employees, executives, independent contractors and other parties. Claims can include theft of money or securities, forgery, alteration, computer fraud, fraudulent invoicing, credit card and funds transfer fraud and more. More modern schemes include social engineering attacks (such as business email compromise, also known as CEO fraud). Third party crime coverage provides protection for claims of theft asserted by clients or customers while your employees are working on their premises or have access to computer networks. 

Get (Risk) Managed.

Ready to review your existing insurance program? Interested in setting a reminder for a renewal review? Or simply have a question? We're here to help. We also understand you're busy - let's schedule a time to speak that works best for you. Simply schedule a call and we'll reach out when it's convenient.

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