America has long had a reputation for an extremely litigious culture. Because of that history and a national environment that’s become increasingly adversarial to the media over the last decade, for many publications the need for media insurance is simply a given. Many publications have already acquired some media insurance to protect themselves, which is an important step in protecting the essential work of their journalism.
For publications that already have media insurance, a Reporters Shield membership might seem redundant at first glance. However, there are several ways in which a Reporters Shield membership will enhance a publication’s existing insurance, making them better protected and even saving them money.
The most common instance of Reporters Shield complementing media insurance is by acting as an additional blanket of protection on top of existing coverage. Many publications have found that securing the level of protection that they need is too expensive on the open insurance market, leaving them underinsured. Running out of coverage could be an existential threat for a publication. It could mean capitulating on a malicious suit and getting stuck with a judgement that would severely impair the publication’s financial future. While Reporters Shield membership does not cover the cost of any judgements, it does cover the legal costs associated with defending content-based lawsuits, and ensures that our members receive the most robust defense possible.
Reporters Shield was designed with the uninsured, the uninsurable, and the underinsured in mind and can help bridge the gap between the coverage they qualify for and the coverage they need.
For instance, if a publisher has $1,000,000 in existing insurance coverage that has been exhausted, Reporters Shield can step in to offer up to $500,000 of supplemental protection, saving the publication a massive amount of money on legal costs and ensuring they get the vigorous legal defense that they deserve.
Additionally, a Reporters Shield membership can help publications save money by lowering their insurance costs. With the knowledge that they have access to up to $500,000 in funds for legal defense against content-based lawsuits, member publications may work with their insurance company to select a plan with a higher deductible and lower premiums, which will lower the monthly cost of their media insurance. Then, if the need arises, Reporters Shield can step in to pay that higher deductible, thus reducing risk for the insurance company and saving the member publication money on both their deductible and premiums.
Moreover, there are other benefits of a Reporters Shield membership that media insurance is just not intended to provide. By joining Reporters Shield, members join a community of like-minded reporters committed to the public interest who are pooling resources to protect each other against SLAPPs (Strategic Lawsuits Against Public Participation).
Furthermore, alongside Reporters Shield’s library of legal and editorial resources they also provide valuable pre-publication legal risk assessments, a legal service that is not often available through conventional media insurance policies.
Media insurance is an important part of any publication’s risk mitigation strategy. And as the media landscape continues to evolve and publications face increasing legal risks, the synergy between Reporters Shield and traditional media insurance emerges as a key strategy for ensuring comprehensive protection. By augmenting existing media insurance with a Reporters Shield membership, publications gain access to an additional layer of protection in a fraught environment, opportunities to reduce their insurance costs, and the knowledge that they are contributing to a community dedicated to the protection of their fellow journalists.
