The Chubb Group of Insurance Companies has launched MediaGuard, an errors and omissions liability insurance, in attempt to accommodate the growing mediums through which media distributes information, according to a MarketWire press release, posted by MSNBC. The insurance will be available in the United States and Canada and provides financial protection against a number of media specific vulnerabilities.

The insurance targets broadcasters, publishers, film producers, advertisers and advertising agencies. The policy covers third party liability against defamation, invasion of privacy, copyright and trademark infringement, misappropriation and advertising errors and omissions. It includes clauses for news media and multimedia errors and omissions, producers errors and omissions, Internet liability and news media subpoena defense costs.

"Media companies face a multitude of insurance issues and are constantly exposed to liability risks," Ken Goldstein, assistant vice president of Chubb & Son and worldwide media liability manager of Chubb Specialty Insurance, stated in the press release. "MediaGuard is a fresh approach to the ever-evolving media marketplace by offering 'real-world' solutions to this fast-paced industry."

Chubb has been providing financial protection for media services for more than 40 years.