Article date: 19 March 2010
Recognising that the media industry is one of the fastest growing sectors in the UK1, Aviva has launched a specialist media insurance, which covers the industry’s specific insurance needs.
A range of businesses, including on and offline publishers, marketing and advertising companies, photographers, broadcasters and local media, can now benefit from tailored protection against the many risks faced by those working within the media.
Aviva’s new media product provides specialist protection for expensive recording, editing and broadcasting equipment should it break down or be damaged. It also provides the right breadth of business interruption cover on the understanding of how disruptive loosing such sophisticated equipment can be, especially part way through a job.
The cover also includes important options such as legal protection and essential liability, tailored to the client’s needs using a combination of Aviva’s self employed office package and the bespoke media policy. This provides solutions for larger media businesses including property damage, business interruption, theft, employers, public and products liability and commercial legal protection.
Likely claims within the media industry may include accidental damage to recording or photography equipment, the loss of important images and copy, theft of valuable property and equipment and the costs to re-shoot material after an accident or loss of footage.
For production companies, particularly those dealing with film, video, post production and animation, Aviva offers a range of specialist media covers such as multimedia, producers and post producers indemnity.
Keith Sully, commercial underwriting manager, Aviva, says: “We have put together our media cover to meet the many and varied requirements of this specialised industry.”
“The media industry relies heavily on technology, with the evolution of multimedia technologies changing the landscape in this sector beyond recognition over the last 20 years.
“As an industry particularly dependent on specialised equipment it is essential to have an insurance policy that meets those specific needs. However, it is also important to remember that many businesses will need additional areas of protection such as: business interruption, professional indemnity or even directors and officers cover.”
A summary of the media cover is available to download at www.aviva.co.uk/broker.
For further information, please contact:
Jo Rosenberg at Staniforth on 0161 919 8014/ 07973 143215 or Sally Leeman from Aviva’s press office on 01603 684225 / 07789 270677
Notes to editors:
1 According to BusinessLink.gov.uk - www.businesslink.gov.uk/bdotg/action/detail?type=RESOURCES&itemId=107801859
Aviva is the world’s fifth largest* insurance group, serving 53 million customers across Europe, North America and Asia Pacific.
Aviva's main business activities are long-term savings, fund management and general insurance, with worldwide total sales of £45.1 billion and funds under management of £379 billion at 31 December 2009.
We are the largest insurance services provider in the UK and one of the leading providers of life and pensions products in Europe.
The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive.
For broadcast-standard video, please visit www.aviva.com/media/video.
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* based on gross worldwide premiums at 31 December 2008