Sunday, July 16, 2017

Delaware Business Insurance Update From CNC Insurance Associates Inc. "The Other Part of Your Liability Coverage, Libel and Slander Coverage" 7-16-17

Many business owners do not know that their general liability policy will cover for libel, slander, copyright infringement, and defamation. Here are some examples. In the course of business you may have a claim from a competitor that accuses you of libel or slander.  This usually happens in competing for sales or bringing on new customers. Another  company in a similiar industry as you, may feel that your business ad slogan  or marketing campaign, is a violation of their copyright or their "trade dress" and this could initiate a lawsuit.  Now add social media and the ease of posting on the internet, and this risk has gone to a whole new level.
The general liability policy covers these claims under Personal Injury and Advertising. This coverage is in Part B of the general liability insurance policy. Limits of insurance for this coverage usually match the bodily injury and property damage coverage of Part A, which is the liability coverage most everyone is familiar with.  As technology allow businesses to reach more and more people, the risk of these advertising claims will make the Part B of the general liability coverage a very important one in the course of protecting your business. Until next time be careful out there and know your risks.

G. Kevin Nemith. President CNC Insurance Associates & The Business Insurance Center
Serving DE, MD, PA, NJ, & VA