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.
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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
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."
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
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.