Article March 8, 2022

Modernised media cover for the digital age

The ways in which we consume content are ever-evolving, and so too are the entities that create and distribute it

Since the emergence of social media in the early 2000s the creative industries have boomed. In a mere two decades society has advanced from consuming scheduled programming dictated by a small handful of broadcasters, to quite literally having the world at our fingertips.

Now, anyone can be catapulted to fame overnight with a well-timed viral video or a contentious  tweet. The news is riddled with tales of mishaps, controversies, and defamation issues. Brands, and their advertising functions, have taken leaps forward in order to capture their customers’ attention.  Podcasts now take centre stage with individuals able to choose to listen and learn about whatever they like and wherever they like.  With immediate access to a captive audience, on whatever distribution platform they wish, the barriers to entry for creating music and film productions has never been lower.

Modern media companies have had to evolve in order to keep pace with consumer preferences and created platforms where quite literally anyone can share their creations with the world - participation in culture as a creator as opposed to an observer is more accessible than it has ever been.

This evolution of distribution and content creation models has naturally resulted in substantial changes to risk profiles associated with the industry. The exposures these businesses face are far more sophisticated than ever before.

CFC’s updated media product has been carefully crafted with an eye on this new digital age in order to ensure comprehensive cover for entities operating in this space. Our wording provides simple and sophisticated cover that allows for these businesses’ insurance needs to be seamlessly catered for under one policy.

We recognise the lines between the digital and physical world are blurring and many of the same risks apply online as well as off. Here are a few highlights from our updated policy:

  • The contingent bodily injury and property damage cover bridges the digital and physical gap to ensure peace of mind for creative entities.
  • The cyber portion of our offering has been considerably enhanced in line with this emerging virtual landscape, safeguarding businesses trading in the digital ecosystem and with instant access to our expert cyber incident response team.
  • The new inclusion of sub-contractors’ vicarious liability as standard, given the extensive use of freelancers within the industry in order to support the delivery of content and services.
  • The broad and unambiguous cover for breach of contract, intellectual property rights infringement and robust defamation protection that has always been a staple of CFC’s media offering

Whether B2B creative services provider or a B2C publisher, an individual vlogger or an international media conglomerate, our new product meets the needs of modern media companies. We’ve adapted, so today’s media companies don’t have to struggle with outdated insurance products.

Find out more about CFC’s updated media policy, and if you have any questions please email media@cfcunderwriting.com