Hiscox UK and Ireland boosts media and creative industries product suite
London, UK (14 February 2017): Specialist insurer Hiscox is addressing new exposures faced by the media and creative industries with the launch of two bespoke professional indemnity products focused on those working within digital marketing and event organisation. The insurer has also further developed its marketing, advertising and communications, commercial film producers and multimedia products to even better serve the changing risk landscape in those sectors.
Fast-moving technological advances – from the use of mobile and tablet devices, and the creation of platforms such as digital radio or on-demand TV, to the immediacy of social media – mean that the way consumers interact with companies has been completely revolutionised. They have changed the nature of risk for many of the industries associated with them. While Hiscox has been providing cover to the media and creative industries for many years, these new and updated products contain market-leading elements of coverage that set them apart from the competition. This includes:
The digital marketing product provides broad cover for contractual liability and explicit cover for a wide range of digital services including SEO, digital advertising, analytics and insight and web and app building.
The marketing, advertising and communications product covers breach of advertising regulations, breach of contract and rectification costs.
The commercial film producers’ product provides explicit cover for APA contracts required for the production of commercials, as well as cover for breaching a licence to use someone’s trademark or copyrighted material.
The event organisers’ product includes automatic coverage for venue owners and operators (a cover that is often required), bodily injury and property damage cover, personal appearance coverage, and work performed by subcontractors.
The upgraded multimedia product has additions which include protection against allegations of discrimination in your content, legal costs to challenge a Police Information Notice and cover for emotional distress claims.
James Brady, Head of Media at Hiscox UK and Ireland, said: “We have over 20 years’ experience of insuring media and the creative industries, as well as a market-leading proposition and a specialised media claims handling team which truly set us apart. This new suite of products will further boost our ability to serve clients working in this field, by being even more tailored to their specific needs.”
Hiscox has been providing commercial insurance for the media sector since 1995, and now insures more than 15,000 businesses across the UK and Ireland – ranging from bloggers to some of the largest publishers and broadcasters in the world. It offers commercial policies that are specifically tailored for a wide range of media and creative companies such as advertising agencies, media buyers, PR consultancies, commercial film producers or graphic design agencies, vloggers, podcasters, publishers and broadcasters and is able to provide professional indemnity, specialist media property and liability, cyber and data, management liability, event cancellation, crime, personal accident and crisis containment cover. Hiscox is also able to offer market-leading contingency based coverages such as advertising agent’s indemnity, commercial producer’s indemnity and death and disgrace.
Hiscox also has a dedicated media claims team which sets it apart, giving clients access to a team of specialist media lawyers with extensive litigation experience in all aspects of media law.
To find out more, go to www.hiscoxbroker.co.uk/media.
For further information please contact:
Lucy Hensher +44 (0) 20 7448 6619 [email protected]
Notes to editors
About The Hiscox Group
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle. It’s a long-standing strategy which in 2015 helped generate gross premiums written of £1,944.2 million and a profit before tax of £216.1 million.
The Hiscox Group employs over 2,200 people in 13 countries, and has customers worldwide. Through the retail businesses in the UK, Europe and the US, we offer a range of specialist insurance for professionals and business customers as well as homeowners. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re and ILS.
Our values define our business, with a focus on people, quality, courage and excellence in execution. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visit www.hiscoxgroup.com.
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