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Mutual's indemnity coverage has been carefully designed by experienced First
Amendment counsel and has been customized to meet the needs of today's
modern media organizations.
The indemnification policy includes liability limits of up to $15 million and
provides for the payment of defense costs, settlements and judgments,
including punitive and exemplary damages (where insurable by law), appeal
bonds and interest on any judgment associated with a covered claim.
Mutual's libel insurance policy continues to be a leading policy form in the
industry, providing the most complete protection for today's evolving media
organizations.
Coverage Features
Selection of Counsel
While Mutual’s policy requires approval of defense counsel, this is to insure
appropriate representation of the Insured’s interests, not to control unreasonably the
cost of defense. Mutual believes that the Insured is in the best position to direct its own counsel’s staffing, strategy and overall case management.
Punitive Damages
Mutual’s indemnity policy form and Bermuda domicile allow it to provide coverage
for punitive damages, without adverse influence of jurisdictional or public policy
restrictions.
Limit Per Event – No Annual Aggregate
Mutual’s policy provides the full limit of liability for each event without an annual
aggregate limit. The conclusion of a libel case may span a good number of
years during which other cases may erode or fully exhaust the aggregate limit
provided in some other policy forms. Mutual offers limits up to $15,000,000 per
event.
No Forced Settlement Provisions
Mutual’s policy permits the Insured to decide the merits of appeal of adverse
decisions without "walk-away" or "hammer" provisions contained in some
other policy forms.
Confidential Source "Breach of Contract" Coverage
Mutual’s policy provides coverage for certain claims from confidential sources for
damages resulting from the inadvertent disclosure of their identity.
Industry Experience
Mutual Insurance Company Ltd was created by media industry leaders in
response to capacity and coverage limitations dictated by conventional
insurance markets. Media industry leaders continue to control the direction and
management of the Company.
The Policy Covers:
• Charges of libel, slander, infliction of emotional distress, trade libel,
product disparagement and other forms of defamation;
• Invasion of privacy claims against the media;
• Commercial appropriation of a name or likeness;
• Intellectual property violations, including copyright infringement,
plagiarism, misappropriation of ideas under implied contract, and unfair
competition relating to intellectual property infringement;
• Trespassing, eavesdropping and other claims associated with
news gathering by the media; and
• Miscellaneous errors and omissions.
The Policy Insures:
• Newspaper and magazine publishers and book and directory publishers;
• Companies engaged in preparing materials for publication and
republication;
• Electronic publishing services;
• Researching, exhibition, serialization and material distribution services;
• Television and radio stations; motion pictures companies; and
• Cable and satellite broadcasters.
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