Hiscox has been providing commercial insurance for the media and creative sector since 1995 and in that time, the industry has changed exponentially. From the technological advancement of mobile devices, through to the creation of platforms such as digital radio or on demand TV and the launch of social media, the way consumers interact with companies has completely revolutionised.
Business to Business
To keep pace with the media and creative industries, we have created four bespoke B2B professional indemnity products for companies who create and deliver content for third parties:
All of our B2B policies include the following cover as standard:
- Broad, clear breach of contract cover- A critical cover in the B2B environment
- Rectification costs
- Payments towards outstanding fees
- Intellectual property
- Breach of confidentiality or privacy.
Business to Consumer
We have also created a B2C professional indemnity that has been tailored to companies that deliver content they create or acquire to the general public:
Our B2B policy includes the following cover as standard:
- Intellectual property, including plagiarism and correct attribution
- Breach of confidentiality or privacy
- Automatic cover for additional insureds
Consolidation in your industry
Hiscox are aware there is frequent takeover and merger activity in the media and creative industries, so we make sure they are covered. That’s why when clients insure with Hiscox we include:
- Automatic cover for an acquired entity
If the client buys a firm during the course of the policy then that firm is covered automatically, if it is less than 20% of the total turnover and its activities are consistent with your clients current business.
- Takeovers and mergers extended reporting period
If the client is open to acquisition, they have the option to extend their Hiscox policy to cover any past liabilities – potentially making their business more attractive to any buyer.
Please download our full Media and Creative Industries brochure
To find out more about these products, speak to your local Hiscox underwriter