Posted on: February 16, 2023 by Huntersure
When someone creates published content, there is always the danger of getting the facts wrong and facing a lawsuit. Philosophers have debated the existence of objective truth since the beginning of time. For publishers and multi-media professionals, though, it’s clear that truth is both objective and vital. It is essential to the idea of defamation, and it’s also the reasoning behind many lawsuits over published content. Writers, commentators, and producers who publish false statements about another person may be legally liable for their actions.
See how errors & omissions insurance can mitigate this liability.
E&O insurance is a type of insurance coverage that accounts for professionals’ risk during the business. It’s common in industries such as financial services that face high-stakes work daily, but it should be just as common for publishing companies. Consider just one defamation suit in Georgia that led to a publishing company’s bankruptcy and a $500,000 settlement. The right insurance policy can spare your clients from an outcome like this.
Errors & omissions insurance is necessary for publishers because litigation is always possible. If your client publishes content and its subject feels defamatory, they may initiate a lawsuit that costs your clients thousands of dollars — or more. If the information in question is false, the publisher is liable for the harm it causes. The publication of false statements can lead to job loss, damaged reputations, and other traumatic consequences for a victim.
It’s important to note that the criteria for defamation can vary depending on the subject of the publication. Civilians subject to false publications may seek damages by suing for defamation. However, things get a little trickier if the subject is a public official. In these instances, the Supreme Court has ruled that publishing untrue information is insufficient proof of defamation. The subject must also prove that the publisher acted with malice. Errors & omissions insurance is still necessary in cases like this to cover potential legal expenses.
Publishers should understand that false statements are not the only potential cause for litigation. If your client publishes privileged information about a person without their consent, it is a legal liability — even if the data in question is entirely accurate. Publishing the personal details of a person’s life, such as their sexual orientation, financial status, or disability, can inflict substantial harm — and cause a lawsuit. Errors & omissions insurance may minimize this risk.
Nothing is more stressful than facing a lawsuit. It is especially true for publishing companies that often lack the resources to pay large settlements or stage a prolonged legal battle. Investing in errors & omissions insurance is the best way for your clients to continue publishing while enjoying peace of mind. You can help media professionals protect their businesses by providing them with the E&O coverage that they need.
Huntersure LLC is a full-service Managing General Agency that has provided insurance program administration for professional liability products to our partners across the United States since 2007. We specialize in providing insurance solutions for businesses of all sizes. Our program features can cover small firms (grossing $2.5 million annually) to large corporations (grossing $25 million annually or more). We make doing business with us easy with our breadth and depth of knowledge of E&O insurance, our proprietary underwriting system that allows for responsive quoting, binding and policy issuance and tailored products to meet the needs of your insureds. Give us a call at (855) 585-6255 to learn more.