In the New Media era, more and more businesses, companies, and organizations realize that they must use media, communication, and advertising companies today to help market the products and services they provide. Social networks, such as Facebook, Instagram, and TikTok, have become mandatory for many companies that want to promote themselves and reach target audiences, along with being on current affairs, economy, and entertainment websites
Within the new media reality, more and more media bodies, television, and radio channels, alongside advertising, PR, and marketing companies, are exposed to various lawsuits from many parties, whether claiming incorrect publications, violation of intellectual property, or whether due to a cyber attack, for example, which resulted in the leakage of sensitive information. Media and multimedia insurance are designed to reduce the risks that companies in the field take on and help them operate in a safe environment.
What coverages are included in media and multi-measure insurance?
Professional Liability Insurance – Provides insurance protection to these companies against claims for negligence and default in their daily conduct. Whether due to the promotion of news in the media or whether because of leaked details and documents. Insurance covers liability due to investigations, lawsuits, legal proceedings, financial compensation determined by a legal court, and more.
Cyber Insurance – Cyber attacks may reveal sensitive information held by the media and multimedia companies of individuals, companies, and businesses, which may result in great damage. The insurance covers claims from various parties alleging damage due to the information leak. The insurance also covers claims, management of the attack event, damage to the companies’ good name, and more.
Business Insurance – Fires and stormy weather break-ins are just some of the current risks that many businesses in the media industry may face. Business insurance comes with the purpose of providing them with insurance coverage that will help them in this difficult time, and to stand by the companies in times of need and give them critical assistance in order to reduce the damages caused.