Social media has been and continues to revolutionize the way we communicate and do business. However, the increased reliance on social media at both the consumer and corporate level carries with it a wave of new exposures for social media organisations. Esurance® 2.0 was one of the first products of its kind specifically designed to provide comprehensive protection for this new breed of media company – from social networks and community sites to media sharing websites, bloggers and online gaming companies. The modular policy allows businesses to tailor the cover they buy to the specific risks they face. Some of the coverage features are listed below.
Comprehensive media liability
The media landscape is changing at a fast pace. The many ways in which content is sourced, generated and disseminated mean that insurance needs to be broad enough to encompass all of it. This is why our policy provides full coverage on all content which you are held responsible for, including user generated content.
An active social media presence harbors risks, and defamation is a serious threat to social media businesses which often provide a platform for views to be published and propagated. Our policy covers the costs incurred as a result of a claim first made against you alleging defamation (including but not limited to libel and slander,) and emotional distress as well as outrage arising out of your media content, user generated content or your business activities.
Cyber & privacy cover
Our comprehensive cover takes into account the risks faced by modern businesses by providing protection against a wide variety of cyber attacks and data loss scenarios. It extends to loss or breach of data held in the cloud as well as hack attack on third parties emanating from your computers systems.
Cloud storage coverage
We recognize that more and more of your data – if not all of it – is stored in the cloud. While this has undeniably revolutionized the way we work, the cloud has also raised legal and technological concerns, and our cover ensures you are protected in the event of cloud data loss and breaches.
Intellectual Property Rights Infringement
Our policy covers the legal costs of defending a claim alleging an infringement of another individual’s or business’ intellectual property rights such as allegations of copyright or trademark infringement, as well as any damages, settlements and counterclaims associated with the claim. Our policy also covers the legal costs of claims of this nature that seek non-compensatory relief such as injunctions.
CIVIL LIABILITY PROFESSIONAL INDEMNITY
Social media may be relatively new but liability is not. We provide broad civil liability protection for clients ensuring that their legal costs and expenses as well as any damages or settlements are covered for a range of civil actions, including negligence, breach of contract, negligent misstatement or misrepresentation.
Breach of contract
Clear, unambiguous cover for breach of a client contract. We will pay all sums which you become legally obliged to pay as a result of any claim by a client made against you – including liability for claimants’ costs and expenses.