While Lyle Stuart made a business decision not to insure against publishing perils, fortunately, there are special policies that will pay the cost of defending your right to speak freely. Media perils policies are available to publishers and authors to protect against intellectual property and libel claims. These policies generally cover claims of copyright and trademark infringement, invasion of privacy and defamation. Some policies even cover claims of misappropriation of ideas, as well as a number of other media perils. Most of these policies also cover the costs of defending a lawsuit, including attorney's fees and court costs.
Insurance policies vary widely.
It is important to emphasize that comprehensive general liability insurance policies, that most business firms carry, do not cover the type of claims discussed in this article. When obtaining a media perils insurance policy there are several questions that you always need to ask. Always find out whether the policy will provide coverage for legal fees and defense costs in addition to payment of a damage award. Some policies have defense costs within the limit of liability, and some offer defense costs in addition to the limit of liability. Other policies require you to obtain approval before incurring any attorneys' fees or expenses.