Is the Era of the Monoline Specialty Insurance policy Coming to an End?

In researching our April Betterley Report (which will be about the Intellectual Property and Media Liability market, and should be posted by the end of April), I was having the perhaps not original thought that, in the age of the Internet and social networking, we are all publishers (or broadcasters).  Now, maybe I’m not the best example; after all, our consulting firm is heavily involved in producing media content (The Betterley Report as well as this blog), but certainly most organizations are active in media these days.  What organization doesn’t have a Web presence?

So, this got me thinking: media liability is getting like cyber risk and EPLI; almost every organization should consider it.  And if that is so, shouldn’t these coverages be offered as a part of a standard insurance product bought by most insureds?

For mid- and smaller-sized insureds, a Management Liability product is a pretty common purchase.  Some of those policies can be extended to include coverages such as cyber and media (and of course, already include EPL).  Should these policies be the platform for the specialty insurance coverages often promoted to these insureds?

The answer may be – well yes, Rick, they already are.  But when I look at Management Liability products (August issue), many carriers don’t take the opportunity to add other specialty lines beyond D&O/EPL/Fiduciary to their offering.

Maybe Management Liability policies will need to be dubbed Specialty Liability insurance policies.

Caveat – I’ll be the first to agree that larger and/or more complex risks ought to be separately underwritten and covered by monoline specialty insurance products.

Your thoughts?  I’d love to see them posted here.

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