Walterry Insurance: Libel Insurance The National Newspaper Association's Libel Insurance Plus Offered by Walterry Insurance Brokers and Chubb Executive Risk Endorsed by the National Newspaper Association and Over 25 State Press Associations Today's media companies need protection that goes beyond traditional libel insurance. Walterry Insurance Brokers has teamed with Chubb Executive Risk to provide Libel Insurance Plus, media liability insurance that gives newspaper publishers comprehensive coverage for risks arising out of the core function of news organizations: gathering information and communicating that information to the public. Walterry Insurance Brokers has more than 25 years of experience insuring the media. Chubb Executive Risk is a leader in the professional liability arena and specializes in media insurance. Chubb Executive Risk's underwriting companies have earned ratings of A++ (Superior) from A.M Best & Company, Inc. for company financial stability and AAA (Extremely Strong) from Standard & Poor's for claims-paying ability -- both the highest ratings an insurance company can receive. Some highlights of the policy include: Coverage is provided on an "open perils" basis. Traditional media liability insurance covers a finite list of "named perils" such as libel and slander. What makes Libel Insurance Plus unique is that it provides coverage on an "open perils" basis, providing coverage for a much broader array of potential claims against publishers. Coverage extends to Internet-based publishing. More and more publishers are launching Web sites to complement their traditional print operations. With this additional vehicle for communications, no news organization's media insurance is complete without this coverage. Defense costs are in addition to the limit of liability. Many other media insurance policies include legal defense costs within the limit of liability. Under this program, legal costs incurred in defense of a claim will not erode the policy's limit of liability. Policy is written on an occurrence basis. The policy provides a separate limit of liability for each occurrence, as opposed to a single aggregate limit. Policy provides the insured with absolute discretion over settlements. The insurance company cannot settle any claim without your consent. Other coverage features include: Provides coverage for punitive damages (where insurable by law). The policy specifically provides that the insurer will not challenge the insurability of punitive damages if the insured produces an opinion of counsel stating that such damages are insurable. Worldwide coverage. Libel Insurance Plus provides coverage for acts occurring or claims asserted anywhere in the world, matching the needs of media organizations that operate globally. Provides coverage on a "pay on behalf of" basis. Provides coverage for bodily injury arising out of errors or omissions in the content of publications. Commercial printing operations included. Provides coverage for audiotext operations. Provides coverage for claims seeking injunctive relief. Provides the option -- on a claim-by-claim basis -- to select counsel and retain control of the defense of a claim, or assign the duty to defend to the insurer. Provides the insured with sole discretion over the publishing of retractions. Provides the insured with the choice to include free-lancers and independent contractors as named insureds under the policy. Allows the insured to protect the confidentiality of sources. Provides libel coverage for non-publishing activities. Chubb refers to the insurers of the Chubb Group of Insurance Companies: Executive Risk Indemnity Inc. and Executive Risk Specialty Insurance Company. Not all insurers do business in all jurisdictions. This literature is descriptive only The precise coverage afforded is subject to the terms and conditions of the policy as issued. Copyright © 2005 Walterry Insurance Brokers [ Forms ] [ Contact Us ] [ Privacy Policy ] [ Home ]