Mutual Insurance Company Limited was incorporated in Bermuda in 1961, and in 1963 began writing libel insurance at the request of a freestanding Committee of ANPA member companies. Today MIC’s media liability coverage is available to a broad range of publishers, including those with digital and social media exposures, as well as other companies in the media industry. MIC has an established reputation of providing superior insurance coverage and claims handling to companies ranging from small local newspapers through to internationally recognized publishers.
At MIC we pride ourselves on the breadth of coverage that we provide to our insureds, as well as our ability to provide bespoke solutions to suit the unique needs and requirements of each individual insured. Our wording was carefully crafted by experienced First Amendment counsel and is designed to meet the developing exposures faced by the media industry. At MIC we can provide you with aggregated or unaggregated limits of up to $15 million and policies provide cover for the payment of defense costs, settlements and judgements, including punitive and exemplary damages, appeals bonds and interest on any judgement of a covered claim. We can also offer Professional Services and Cyber insurance cover by endorsement for additional premiums.
MIC understand that the true test of an insurance policy occurs when a claim is reported, and that is why our insureds are supported by, and partnered with, expert claims handlers with extensive experience in media liability claims. In addition to this our policy does not include a ‘hammer clause’, and we do not impose panel counsel or fee caps. Our insureds have the freedom to select their own choice of counsel and to manage their own litigation as it develops.
- Up to $15,000,000 policy limits, on an aggregated or unaggregated basis.
- Capacity up to $50,000,000 via an exclusive-access excess facility with preferential rates.
- Claims made or occurrence based media liability policy wording.
- Worldwide cover.
- Full punitive damages cover.
- No hammer clause.
- No imposed panel counsel or caps on legal fees.
- NY Choice of Law and Bermudian arbitration available.
- Bespoke endorsements available to meet the individual needs of the insured.
- Free unlimited access to MIC’s quarterly risk management webinars, including archives.
- MIC’s reinsurance is placed 100% with carriers rated “A” or higher by A.M. Best.