Nashville-based broker can now extend personalized coverage to songwriters, composers and social influencers
Anderson Benson, a Nashville-based independent insurance and risk management broker, has been appointed as a Coverholder by Lloyd’s of London for a worldwide Media Liability errors and omissions (E&O) program that is specialized for the music industry. Anderson Benson’s insurance coverage focuses on music, including copyright, publishing, film and social influencing and will be tailored for each group including songwriters, composers, music catalogues, artists, record labels, music publishers and social influencers.
A Coverholder is a party that assists insurance companies to write policies and collect premiums in markets that are located outside the insurance company's headquarters or typical territory. With this appointment, Anderson Benson can now underwrite, make decisions and issue coverage in-house while accessing Lloyd’s premier security and ratings.
"The media liability E&O program allows us to provide more nimble service to meet the needs of today’s creators," said George Anderson, president and co-founder of Anderson Benson. "Our team is always looking for cutting-edge solutions to best serve our clients. The risk of copyright infringement, intellectual property (IP) violations or other errors for creators is significant. I’m proud to play a role in leveraging our decades of experience to modernize risk management."
As a Coverholder, Anderson Benson’s coverage can protect more creators. Social media content, for example, can be viewed as IP as it is original content that is filmed, produced and released. Coverage can also protect social influencers from regulatory fines when a post does not disclose a paid advertising agreement.
"As an appointed Coverholder with Lloyd’s, we are able to expand the definitions and customize the policy to address new exposures like regulatory fines and non-fungible tokens (NFTs) for social influencers," added Brent Daughrity, a partner at Anderson Benson.
Anderson Benson has covered songwriting, composing, producing, creating and distribution; licensed or original music content; all forms of dissemination including online, commercial release, streaming, TV commercials, background music for programs and movies; actions for emotional distress arising from the music content and associated advertising and promotional videos and more.
About Anderson Benson
Anderson Benson is a locally owned and independent insurance broker located in Nashville, TN. Anderson Benson works with preferred insurance carriers to provide commercial and personal insurance services to clients and focuses on a range of industries, including entertainment, hospitality, arts, construction, manufacturing, non-profit, professional services and technology. For more information on Anderson Benson and how it delivers tailored coverage and counsel built on relationships, visit https://andersonbenson.com/
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