Philadelphia Insurance Companies (“PHLY”) is launching its new Cover Pro Media insurance coverage offering for media companies and organizations that create or distribute media content.
“Organizations find themselves as de facto 'publishers' when they host public websites, blogs, post material on social media sites or are involved in traditional broadcasting and publishing activities,” said Thomas Herendeen, vice president of underwriting for management and professional liability products for PHLY. “Given PHLY's significant customer base and the proliferation of online content, along with the explosion of social media; we saw the need to provide coverage for this expanding exposure.”
PHLY said that its coverage provided solutions addressing both online and “offline” exposures that social media, publishing, film production, provision of content, and broadcasting posed to most organizations in today's virtual world. Cover Pro Media includes automatic coverage for independent contractors providing media activities on behalf of policyholders and protection for public appearances, according to the insurer.
It added that this “comprehensive media liability solution” compliments PHLY's other management liability products. PHLY already offers a Cyber Security Liability product in addition to other management liability products. The company said that expansion into the media liability market was “yet another area where PHLY can offer significant value and exceptional customer service.”
Coverage for this new product is available on either a Claims Made or Occurrence basis for: TV and radio broadcasters, publishers, film producers, online advertisers and content providers, authors, spokespersons, and a host of other media classes. The Cover Pro Media product is available on an Admitted basis in 20 states and on a non-Admitted basis in others. Ineligible accounts include online gaming, adult entertainment, and provocative content providers, according to the company.
Learn more: http://www.PHLY.com.