Cable Technology Feature Article
USA Business Insurance Announces Policies for Broadcasters
By Anuradha Shukla, TMCnet Contributor
USA Business Insurance has announced specific policies for television cable broadcasters that include liability for sponsored events.
This announcement allows owners of television, radio and cable stations to buy broadcaster insurance that provides users with a more specific and extensive general liability policy.
The policies include several sponsored events such as fundraisers and concerts that provide coverage for a diverse group of industries, according to USA Business Insurance.
The company is now writing specific policies to include television cable broadcasters for general liability insurance, business personal property and professional liability insurance.
Commenting on the relevance of this announcement, USA Business Insurance notes that radio and television broadcasters can face multiple insurable instances that arise from communication with the public.
These stations are under close scrutiny from the Federal Communication Commission (FCC (News - Alert)), and they are mandated to send the FCC documentation on how they are adhering to Federal laws on a regular basis.
These reports carry important information based on whether the FCC decides they should renew the broadcaster’s license or not.
Although there are governmental controls in place, these stations fear multiple insurable instances. This is where USA Business Insurance steps in.
Policies offered to a station by USA Business Insurance cover legal fees and settlements, as well as damages occurring when objects fall from antennas and towers. Clients falling in parking lots, damage to private vehicles by a station’s mobile unit and other common incidents are also covered by the insurance policy.
These insurance coverage plans are highly specific to the broadcasting industry, which should be welcome news as broadcasting buildings are an easy target for vandalism due to their status in the community.
In related insurance news, Lockton has announced an intangible risks insurance program designed for global companies that face a range of risks such as damage to reputation, computer system interruption, disruptions of supply chains and outsourced functions.
Edited by Alisen Downey