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Not all libel policies are alike. The National Association of Broadcasters, in cooperation with Media/Professional Insurance, has created a program to provide maximum protection for your station.
Here are a few of the reasons you should switch to the NAB Libel & First Amendment Insurance Plan.
- Limits available from $1 million to $10 million. Higher Limits may be available.
- Standard self-insured retention starting at $5,000.
- Backed by A.M. best-rated A+ XV insurer.
Broad coverage
- Provides broad form coverage for any errors and omissions, misstatements, misleading statements or misinterpretations committed in the content matter of broadcast, including claims made for bodily injury or
property damage.
- Provides coverage to include off-air broadcasting activities, including newsgathering activities and trespass.
- Provides coverage for punitive damages up to the policy limit (where permitted by law).
- Reimburses the insured for legal fees and claim expenses.
- Policy coverage automatically available to everything broadcast over the airwaves of the station.
- Covers cost of defending motions for injunctive relief related to the covered perils.
- Insures the broadcaster’s liability for incidental publications and advertising materials.
Extended benefits
- Provides coverage for claims alleging defamation, including libel and slander, invasion of privacy, plagiarism, piracy, infringement of copyright, misappropriation of ideas, and infringement of title, slogan or trademark.
- Defense costs covered in addition to the policy limit at no additional premium.
- Provides coverage not only for the broadcaster but also its employees, officers, directors, partners, stockholders and independent contractors.
- Provides the services of an in-house libel attorney (who understands First Amendment issues and copyright law) to supervise litigation.
- Provides coverage on a pay-on behalf basis rather than on an indemnification basis.
Personal control
- Allows the broadcaster a voice in selection of defense counsel and prohibits the company from forcing your station into a settlement it may not approve.
- Allows the broadcaster and its lawyer to decide when a retraction or correction is warranted.
- Insures contractual liability for insured perils, giving the broadcaster the ability to extend coverage to sponsors and other parties it agrees to protect for matter furnished by the insured.
Web/Electronic Publishing
- Online news and editorial content
- Third party advertising appearing on your station’s Web site
- Chat rooms, weblog, podcast or any other content on covered websites
Fewer exclusions
- Does not void coverage if the broadcaster refuses to reveal a confidential news source.
- Does not require the use of delay devices or special deductibles applying to audience participation programming, talk shows, action reporting or similar live or investigative programming.
- Does not exclude malicious or intentional acts, which can be used to exclude punitive damages.
- Applies on a worldwide basis (not limited to claims made in the United States).
- Provides coverage on an occurrence basis (covering broadcasts during the policy period regardless of when the claim is made) rather than a claims made basis, which applies to claims made during the policy period.
Additional options
- Media contingent legal expense coverage
- Film and program production coverage for others
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