Thanks to social media and this little thing called the internet, today’s media and entertainment (M&E) industry has a worldwide audience quite literally at its fingertips. But whilst technological innovation is driving the industry forwards, it’s also exposing new and evolving risks that content creators and
distributors may not be aware of.
Before talking premiums and coverage, it’s important that clients first understand the basic risks that they face every day. On that note, here’s a handful of questions for you to get the conversation started, along with key talking points for each.
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Are you involved in creating or distributing content?
Modern content comes in many different forms. Whether it’s blogs, videos, webpages or social media campaigns, creators are held accountable for anything they produce, no matter where it’s published.
The same is true for distributors. Depending on the territory you operate in, you may be responsible for claims arising from the content you distribute, even if you don’t personally create the content.
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Does your content use third-party material?
Any content creator or distributor can be vulnerable if using a third party’s intellectual property (IP). Even a logo or background music produced by a sub-contractor can lead to copyright infringement claims—the most common claim we see by volume.
Developing an idea from scratch can remove some risk, but many projects still include the use of third-party IP. Without robust procedures around content licensing, an infringement is all too easy.
Having a claims team on-side empowers producers and promoters to make full use of third-party material, safe in the knowledge they have protection from IP issues.
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Do you use contractual agreements with your clients?
Most companies in the M&E space exchange contracts with clients. Without unambiguous cover, any breach can become a long, drawn-out affair that drains resources and damages reputations.
Have you checked your contracts’ insurance requirements? Purchasing media liability and/or professional indemnity is often enforced contractually, often containing conditions that are enforced as standard, such as additional insured and waiver of subrogation. Our media policy includes blanket additional insured and waiver of subrogation as standard when you enter into a contract requiring you to have these covers.
Sub-contractors often play a major role in delivering content. If a sub-contractor lets you down, CFC’s full vicarious liability cover comes as standard, offering protection if you’re held liable for another’s mistake.
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Do you handle third-party data?
Operating in the digital realm, M&E companies are likely to accumulate and be responsible for vast swathes of confidential or sensitive third-party data, raising the risk of a cyber exposure and making you a target for cyber criminals.
To help you stay ahead of cyber threats, safeguard data, and avoid costly fines or business interruption, CFC’s policy covers network and privacy liability protection, and extends across events including social engineering, invoice fraud, ransomware, targeted extortion, and cryptojacking.
CFC also offers a market-leading cyber incident response team, with real-time threat intelligence, expert advice, and an instant communication pathway via the Response app.
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Are you involved in carrying out physical work?
Any kind of physical work, event, film production, and so on can lead to bodily injury claims and property damage.
Taking out a policy can bridge the gap between the digital and physical. CFC covers claims that arise out of business activities, ensuring peace of mind for today’s creatives.
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Is your content available long after it’s been published?
From the day content is first created, the creator is exposed to risks of infringement for as long as the content remains available to consume. The same goes for distribution. Parties can face risk years after content is originally published.
Carrying a media policy with an occurrence based trigger futureproofs content and protects against risks of infringement.
With CFC, cover remains in place indefinitely from the day of purchase for content that’s produced in the given period, no matter when a claim is filed.
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Have you thought about unifying insurance products in one package?
The need for different types of cover can result in complexity. But comprehensive solutions do exist, combining policies into a single holistic offering.
CFC packages cyber liability and commercial general liability into one media product, so it’s easy for clients to make sure they have the right cover in place.
Find out more about CFC's media and entertainment policy here or get in touch with the team directly at media@cfc.com.
