Why Your Small Publishing Business Needs Liability Insurance
When you sit down with your business insurance broker, you may not see the need in having certain coverage packages. One of the packages you may begin to overlook is is the liability option. You may think this package is strictly for products or services where damages could occur. The truth is liability insurance as part of business insurance packages can be vital for small publishing companies, especially ones dealing in social media. Here are a few reasons why.
No matter how hard you try, you may have a book or article that has inaccurate information. This could be because you used a source that was an old source or a source that had wrong information to begin with. In these cases, the person or company you are speaking about in the publication may seek damages for the inaccurate information. This is especially true in cases where the information you put out may cause harm to that company's income or clients. In these cases, you may be able to reach a settlement through your liability insurance coverage. The insurance may allow for a small settlement or allow for coverage of your writing depending on the clauses stated in that insurance package.
There are times when you may deliver an article or a book that discusses a popular issue. An example of this would be a current criminal case or issues that are developing between two celebrities or social media icons. This type of writing is often considered gossip, and that can lead to privacy issues. You may be thinking you can steer clear of this issue, but consider how your social media marketing may play into it.
For example, you may post a link on social media leading to your article or book. When people begin to comment on that post, they may bring up something about the topic that is personal or private. Shortly after the post, you may be contacted by the person that was referenced in the post. They may ask you to remove the post or they may state that you have violated their privacy not only on social media but also in your publication. For this reason, you would want to have solid liability coverage.
Social Media and Being Liable
One of the leading ways to get the word out about your publication service and the articles or books you are publishing is to use social media. Unfortunately, you can be held liable for certain issues that may occur on your social media. Privacy claims, slander, inaccurate information, and other claims can all be made to your social media site and not to the actual publication. If you plan on having a social media site, and you want to ensure that you are covered for libel issues on that site, you will need to get liability coverage in your business insurance.
Keep in mind, some business insurance brokers do offer packages that are specific to the type of business being covered. Discuss these options with your broker and ensure that you are getting the best coverage for your money. During this consultation, you can also find out about issues that you can correct to avoid too many libel claims coming up later.