New Insurance Product Protects Media

Strangely (or, perhaps not), there was no specific mention of bloggers, a strange class deemed media by the public and nonmedia by the media old guard.

The insurance product has a wide scope. It addresses damage to equipment and will include business interruption protection ... as well as legal protection and liability alternatives. In theory, this should provide a layer of security to media outlets, as they can pursue the news more aggressively without having to let the fear of litigation shape what is presented to the public.

According to Keith Sully, commercial underwriting manager at Aviva, "We have put together our media cover to meet the many and varied requirements of this specialized industry." He continues, "The media industry relies heavily on technology, with the evolution of multimedia technologies changing the landscape in this sector beyond recognition over the last twenty years and concludes, "it is also important to remember that many businesses will need additional areas of protection such as: business interruption, professional indemnity or even Directors and Officers cover."

This is an interesting development. The public is accustomed to blaming the media and hating insurance companies. Media insurance seems like the confluence of all things ugly ... until you put some real thought into it.