Darwin Introduces Media Liability Coverage
FARMINGTON, Conn., Aug. 9 /PRNewswire-FirstCall/ -- Darwin Professional Underwriters, Inc. (Darwin), (NYSE: DR) has introduced new professional liability coverage for media entities. Darwin's focus on content providers, including publishers, broadcasters (traditional and new media), advertising agencies, advertisers, television and film producers, authors, and media conglomerates (companies that disseminate content over multiple platforms), is part of a broader errors and omissions-based (E&O) initiative to address the needs of the growing media liability marketplace. (Logo: http://www.newscom.com/cgi-bin/prnh/20060829/NETU014LOGO ) Darwin's media product incorporates several unique features, which include governmental claim coverage, declaratory judgment actions coverage (that provides funding for proactive legal action), and merchandising cover. Additionally, the coverage is offered on either an occurrence or claims-made basis. Defense expenses are offered both within and in addition to the limits of liability. Limits of $10 million are available on either a primary or excess basis. Darwin's media liability policy also addresses communications liability, personal injury, and contextual errors and omissions (E&O) coverage. There are emotional distress and reliance on content "carvebacks" on the standard bodily injury and property damage exclusions, and a variety of media wrongful acts are included under the policy terms. Additionally, the policy's "all-risk" approach opens coverage to possible future liability theories. Independent contractor and confidential source coverage are also included in the policy. Choice of counsel is available on a claim-by-claim basis. Media liability coverage applies to wrongful acts on a worldwide basis, and is written through the surplus-lines market. "Darwin is very eager to offer this industry-leading product to the media marketplace. It is rare that a policy includes as many broad offerings as Darwin's media liability coverage," says Jonathan Yeisley, vice president, professional liability underwriting. "The media industry has been in need of this kind of comprehensive coverage for a long time; and Darwin is stepping up to meet that challenge, to address the expectations of the marketplace and media liability policyholders." Important Information Coverage descriptions in this press release are summaries only; all coverages will be determined by the policy as issued. Policies are available only through licensed surplus lines brokers. Additionally, this press release may contain projections, comments, and other forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Each forward looking statement is based on Darwin's plans and expectations, as well as on current events and industry trends. Such statements are subject to risks and uncertainties, and the actual outcomes or results may differ materially from those expressed or implied by any of these statements. About Darwin Professional Underwriters, Inc. Darwin is a specialty insurance group based in Farmington, Connecticut. The company is focused on the professional liability insurance market and underwrites directors and officers ("D&O") liability for public and private companies, errors and omissions ("E&O") liability insurance, medical malpractice liability insurance, and other specialty coverages. Darwin member companies include Darwin Professional Underwriters, Inc., Darwin National Assurance Company (DNA), and Darwin Select Insurance Company (Darwin Select). DNA and Darwin Select have earned a financial strength rating of "A- (Excellent)" from A.M. Best Company. Darwin is traded on the New York Stock Exchange under the ticker symbol, "DR." For more information about Darwin, visit http://www.darwinpro.com.
SOURCE Darwin Professional Underwriters, Inc.
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