Remember the old song that starts out, “I believe the children are the future?” Nothing could be more true than when it comes to the future of media. Media producers are increasingly targeting today’s children: some do so for the joy of creating innovative material for a youthful market, while others do so with full knowledge that they represent an enormous consumer market, both now and in the future.
No matter what your reason for choosing to work in children’s media or whether your genre is television, film, radio, interactive media, games, publishing, merchandising, licensing or live performance, you must take steps to ensure that your business is protected against the normal risk factors and unique concerns involved with working in this specific field, and in your particular area of involvement.
When assessing your level of risk, these are the top ten reasons why you need specialist insurance.
Intellectual Property Infringement – Insurance addresses errors of omission in seeking permission, as well as those instances where claims against your company for infringement are baseless. It provides financial protection for lost claims as well as to cover legal fees.
Libel and Slander – Whenever content is being created there are concerns that characters or statements can be construed as defamatory or libellous. This is particularly true across international lines, so insurance needs to be specific to where content will be distributed.
Distributor Liabilities – There are privacy and copyright issues that can sometimes arise as products are distributed, and the risk in these cases tends to rest with the media’s creator and producer rather than with the distributor. Film errors and omissions insurance protects against some of these liabilities, while professional indemnity insurance covers many other types of breaches or negligent acts.
Cyber Risk – Hacking, malware and ransomware can incur tremendous losses, both in revenue and in terms of material losses or business interruption. Cyber insurance policies protect against these losses.
Terrorism – Terrorism is always a risk that is lurking in the background, whether during production, distribution, or performance. Impact can take the form of business or access being shut down, as well as damage or injury In all cases a commercial producers indemnity policy would provide coverage for your cast and crew.
Working with Children and Animals – Children are uniquely vulnerable to abuse and molestation, and as such it is essential that you insure against these risk factors through an abuse and molestation insurance policy or a vulnerable persons policy. Having animals involved in your production may require additional clearances or protections.
Professional Errors and Disputes – Insuring against claims of breach of contract, negligence, breach of confidence or breach of duty of care requires coverage under a commercial producers professional indemnity policy, as well as additional riders.
Product Liability – Producers of media are frequently at risk of being accused of causing emotional distress through their content or inappropriate classification of their material. Having both public and product liability insurance protects against these risks, as does a health and safety policy.
Social Media – Social media has added an additional layer of risk to all businesses, as companies are at risk from posts that can be malicious or libelous, and there are also risks from hacking, catfishing, and copyright infringement. Commercial producers professional indemnity insurance covers this type of media liability.
Director and Executive Liability – When decisions are made at the executive or board level that work against the interests of your organizations, your directors and officers can be held personally responsible. Protection is provided through Directors and Officers Liability Insurance coverage.
To ensure that you have insurance coverage that is tailored to your unique needs in children’s media, contact La Playa to speak with one of our specialists.