Category Archives: Media Liability Insurance

Intellectual Property and Media Liability insurance – state of the market and a forecast for the future; interviews on WRIN TV

For those of us that can’t get enough of IP and Media insurance, here is a 2-part interview on the state of that market and my comments on its prospects.

Part one covers the current state of the IP and Media Liability insurance market:

Part two offers my forecast for its future and observations as to why there aren’t more buyers (yet):




Specialty Insurance Year End Wrap-up Webinar 12/12 at 11 AM by Advisen

Please forgive me for a bit of self-promotion, but this program should be really good; I already learned a lot from our panelists’ conference call.

On Thursday morning, December 12 at 11 AM (eastern time), I will be on a panel moderated by Advisen’s David Bradford to review the trends and developments of 2013 in Specialty Lines insurance. The panel of experts will also provide insight into 2014 & beyond. This free, one-hour webinar is sponsored by OneBeacon Professional Insurance; registration is here.

The panel includes:

  • Paul Romano, President, OneBeacon Professional Insurance
  • David Lewison, National Practice Leader, AmWINS
  • Rick Betterley, President, Betterley Risk Consultants
  • David Bradford, President, Research & Editorial division, Advisen (moderator)

The economy continued to improve in 2013, which generally benefitted the insurance market. For specialty insurers, however, the year posed a number of challenges. Healthcare reform continued to reshape the risk landscape of hospitals and other healthcare organizations. Lawyers continued to feel the fallout of the credit crisis and recession as claims activity remained above historical averages. Network security challenges further evolved in the endless cat-and-mouse game between cyber criminals and system security experts.

This webinar will review the trends and developments of 2013 in “Specialty Lines” insurance. Our panel of experts also will provide their insights into the factors that will influence the market in 2014 and beyond.

Hope you can join us!

Private Company Management Liability Markets – WRINTV interview

WRINTV asked me to share our findings about the Private Company Management Liability market and product trends; here is the link to the interview.  It builds off of our August issue (Private Company Management Liability Market Survey 2013).

I continue to be impressed with the depth and breadth of WRIN TV’s content (and not just because I am a source, although I do like the opportunity to share our findings with its audience).  John Greene, Ken Simon, and their colleagues at World Risk and Insurance News have really done something special by creating and nurturing this resource.  Well done.

Intellectual Property and Media Liability Insurance Market Survey 2013 posted – some observations

April is the month in which I release our IP and Media Liability Market Survey, which focuses on the 2 lines that cover the various forms of Intellectual Property.  The free Executive Summary is here.  The full Report can be ordered from IRMI here.

The Report includes a discussion of the RPX RRG for patent infringement as well as adds the Euclid Media Liability product to the carriers we review.

This year I included an interview with Bob Fletcher of Intellectual Property Insurance Services; the interview focuses on the history of the coverage, marketing challenges, and how he sees its future.  Bob is the godfather of IP insurance and I am pleased to include his thoughts.

Your comments and suggestions are welcomed.


Intellectual Property insurance interview on

You can see my most recent thinking on the topic of IP coverage and the market need on by clicking here.  In case it isn’t obvious, this was a challenging interview, even though it was based on a Report I had just finished.  IP is a complex topic from an insurance standpoint.

Speaking of that Report – it is the April issue (Intellectual Property and Media Liability Insurance Market Survey 2013), which has now been posted at the  IRMI site (scroll down on the IRMI page and click on Intellectual Property and Media Liability link).

As always – feel free to let me know if you have any questions or suggestions.

Snips from our Intellectual Property and Media Liability Market Survey 2012

We have completed our annual review of the insurance markets that offer coverage for Intellectual Property risks and/or Media Liability risks.  The 2 are combined into a single Report because of the significant amount of overlap in the respective coverages.

We have been writing about IP insurance since the mid-1990s, and continue to be enthused about its potential to cover valuable assets and exposures to lawsuits that are not covered elsewhere.  Media Liability was added more recently (2010) as we found fewer markets in the IP segment, but options for coverage could be found in the media products line.

The market has not been as enthusiastic about IP coverage as I am (especially patent infringement coverage), although progress is being made.  Brokers tell me that the reasons for IP coverage not being more widely purchased is a combination of:

  • Lack of knowledge or understanding by the potential insureds and their insurance agents/brokers,
  • Cost (whether real or perceived),
  • Insureds think they already have coverage (in other policies), and
  • Objections from legal counsel, who doesn’t want an insurer involved in the defense

I suspect these reasons are legitimate, and would add “too much work for too few sales” as an explanation of why more Patent Infringement isn’t bought.

Media Liability, on the other hand, is more easily understood and valued (even if the risk is less catastrophic for most), particularly considering the interest in liabilities arising out of social media.  This coverage is now available as an add-on to a wide variety of policies, including Management Liability, Tech E&O, Cyber/Privacy, and others (including BOP-type packages).

Other observations:

  • We have added Liberty International to the IP coverage section
  • Hiscox as well as OneBeacon are now included in the Media Liability section
  • We removed XL from the Media section, as they mostly offer this coverage as an add-on to other products, such as Tech E&O

Next issue (June): Cyber/Privacy Market Survey 2012

Snips from our Private Company Management Liability Insurance Market Survey 2011

We are pleased to let you know that our Private Company Management Liability survey was posted recently at  This Report reviews bundled products that can included D&O, EPLI, Fiduciary Liability, and other executive liability products.  The target market is generally middle market and smaller insureds.

We have selected twenty-three carriers for this year’s Survey, up from twenty in 2010. Newly added carriers include Argo and Zurich; Starr is back after a one year absence.

2011 looks to be similar to 2010, but with a definite firming of rates indicated as the year develops.  While we do not expect any significant increase in rates, discounts are disappearing, and small (5% or so) increases are more common.

The volume of business (gross written premium) is rising a bit, with most carriers reporting total premium growth in the 0-10% range; markets reporting flat or down premiums tend to be the smaller companies, as continuing softness in rates combined with cutbacks in coverage made for an environment in which a carrier was happy just to get as much premium as they did from the expiring policy.  We see support, though, for premiums to resume their climb as insureds recover from the recession.

Based on confidential conversations, we found:

  • Premium growth (2011 projected versus 2010) is rising slightly, accelerating as we get further into the year.
  • Rates are flat or up 5 to 10 percent for good insureds, a bit more (10 to 20 percent?) for the less attractive insureds
  • Deductibles are flat
  • Reinsurance support is stable.

Although carriers continue to broaden the types of coverages they offer the middle market, we believe they are missing a golden opportunity by not offering more coverage options.

Adding more coverage options can be a successful product strategy because MLI policies are an easy sell to insureds and their brokers – most insureds need at least a couple of the core coverages (EPL and Fiduciary).  Adding additional coverages to an existing policy is an easier buy (or sell?) for many insureds, who find it easier to add an option than to buy an entirely new policy.

Many insureds and brokers have told us over the years that they can get internal support for an added coverage option that would have encountered resistance as a new policy purchase.  This was especially true during the recent soft market, when premium reductions freed up budget for additional insurance purchases.

More about lines of coverage soon (or, read the full Report at