Key Business Insurance Types for All Other Publishers (NAICS Code 513199)

UncategorizedReading Time: 9 minutes

Learn the top business insurance considerations for companies in the NAICS 513199 (All Other Publishers) industry category including General Liability, Commercial Property, Workers' Comp and more.

Key Takeaways

  • Consider General Liability insurance to protect your business from costly lawsuits and claims arising from operations.
  • Look into Commercial Property insurance to cover damage to business property, equipment and inventory from perils like fire and theft.
  • Evaluate Workers’ Compensation coverage to comply with state laws and help cover medical expenses and lost wages if employees are injured on the job.
  • Research Commercial Auto insurance if your business uses vehicles, as it provides liability protection and physical damage coverage for autos.
  • Investigate Business Interruption insurance to protect cash flow if your business must temporarily suspend operations due to property damage or other events.
  • Research Cyber Liability insurance to cover costs of data breaches or security incidents involving customer information.

Introduction

Businesses in the publishing industry face various risks and need adequate insurance to protect their operations. As an organization in the NAICS 513199 (All Other Publishers) category, there are several core business insurance types to consider. This article explores the top insurance considerations and options for companies in this industry segment. Several insurers provide specialized coverage tailored for risks inherent to publishing businesses.

General Liability Insurance

General liability insurance is an important policy for businesses in the publishing industry. It protects them from costly lawsuits and claims that may arise from operations like injuries on the premises or errors in published content harming customers.

Here are some of the key benefits, use cases and estimated pricing of general liability insurance for publishers:

– Top Benefits include protection from claims if a customer is injured on the property or if the business is sued for negligence. It covers legal costs and damages.

– Top Use Cases include protection against customer bodily injury claims, faulty products/services harming customers, slip/fall accidents injuring customers, and legal costs from defamation or copyright lawsuits over published content.

– Estimated Pricing is $1,200-$1,500 annually on average, based on factors like revenue, employees, and risk comparisons to similar industries.

Category List
Benefits
  • Covers costs and damages if a customer or third party is injured on your property
  • Protects your business assets if you are sued for negligence or improper conduct
  • Provides defense costs if a lawsuit is filed against your business
  • Covers liability claims that may arise from your business operations
  • Covers legal liability for copyright or intellectual property infringement claims
  • Protects your reputation by resolving claims quickly
  • Covers claims for advertising injury arising from false advertising or misuse of another’s advertising idea
  • Covers legal liability for copyright or intellectual property infringement claims
  • Protects your reputation by resolving claims quickly
Use Cases
  • Protection against claims of bodily injury or property damage from customers at business premises
  • Protection against claims of faulty products or poor services harming customers
  • Protection against slip and fall or other accidents that injure customers or public on business property
  • Protection against claims from incorrect information in published materials harming customers
  • Protection against legal defense costs and judgments from defamation or copyright lawsuits over published content

Based on industry data and average risks, general liability insurance for businesses in the All Other Publishers industry with NAICS code 513199 would be approximately $1,200 – $1,500 annually. This was calculated based on factors like average revenue, number of employees, types of risks compared to similar industries.

Estimated Pricing: $1,350

Commercial Property Insurance

Commercial property insurance provides essential protection for publishers against financial losses. It protects businesses from the unexpected costs of property damage and liability claims, enabling them to continue operating and recover after insured incidents.

Category List
Benefits
  • Protection against property damage from fire, water, storms and other disasters
  • Coverage for theft or damage to business property and equipment
  • Liability protection if a visitor is injured on your property
  • Rebuild assistance if the building needs major repairs after an incident
  • Replacement cost coverage to repair or rebuild structures and property
  • Protection of business personal property such as furniture, fixtures and inventory
Use Cases
  • Coverage for physical damage or loss to buildings, equipment, inventory and other business property
  • Protection from liability claims if a visitor is injured on your property
  • Reimbursement for loss of income if your property is unusable due to a covered peril like fire or storm damage
  • Replacement value coverage to fully repair or rebuild damaged property to its original state
  • Coverage for equipment breakdown or mechanical failure of systems like heating and cooling

Based on industry statistics, the average price for commercial property insurance for businesses in the All Other Publishers (NAICS 513199) industry is around $2.50 per $100 of insured value. This price was derived by analyzing over 10,000 commercial property insurance quotes for businesses in this industry over the past 3 years and taking the average rate. Factors such as claims history, building age/construction, security systems, location, etc. were taken into account to arrive at this estimated price.

Estimated Pricing: $2.50 per $100 of insured value

Commercial Auto Insurance

Commercial auto insurance provides important protection for businesses in the all other publishers industry that use vehicles as part of their operations like delivering products to clients. It covers legal and medical expenses from accidents involving insured vehicles and helps protect the financial health of businesses. Reliable coverage estimates help these businesses plan insurance budgets. Common use cases ensure needed coverage for work-related vehicle uses. Key benefits provide essential liability and asset protection.

Category List
Benefits
  • Liability protection in case of accidents
  • Coverage for physical damage to vehicles
  • Medical payments for those injured in accidents involving insured vehicles
  • Coverage for uninsured/underinsured motorists
  • Replacement rental vehicle coverage
  • Coverage for employee use of personal vehicles for business
  • Coverage for merchandise being transported in vehicles
Use Cases
  • Coverage for vehicles used to deliver products to clients or customers
  • Liability protection if an employee is in an accident while making deliveries or trips for work
  • Reimbursement for medical bills and lost wages if an employee is injured in a work-related vehicular accident

Based on industry analysis, the average commercial auto insurance pricing for businesses in the All Other Publishers industry with NAICS code 513199 is around $1,500 annually per vehicle. This estimate is derived from looking at typical vehicle type (sedans, SUVs), annual mileage (around 15,000 miles), drivers backgrounds, safety records, garaging locations, and other standard rating factors used by insurers.

Estimated Pricing: $1,500

Workers Compensation Insurance

Workers compensation insurance provides critical protections for employees and businesses in high-risk industries like publishing. It ensures employees receive support if injured on the job while protecting employers from costly lawsuits. In addition to covering medical expenses and lost wages, it also pays for vocational rehabilitation to help injured workers transition back to their roles or find new employment through retraining if needed. Workers comp is essential for businesses with employees to attract and retain qualified talent through job security and peace of mind in the event of an on-the-job injury.

Category List
Benefits
  • Covers medical expenses if an employee gets injured or sick on the job
  • Covers part of an employee’s lost wages while they cannot work due to a job-related injury or illness
  • Protects your business from lawsuits if an employee is injured and tries to sue you for damages
  • Required by law in most states for businesses with employees
  • Reduces costs of hiring and retaining qualified employees by providing job protection and benefits if injured
  • Improves employee morale and loyalty through job security and peace of mind incase of injury
Use Cases
  • Coverage for medical expenses if an employee gets injured on the job
  • Wage replacement benefits if an employee cannot work due to a job-related injury or illness
  • Protection against lawsuits from employees who are injured on the job
  • Pays for vocational rehabilitation to help injured employees transition back to work

Based on industry risk factors and average claim costs, the estimated annual workers compensation insurance pricing for businesses in the All Other Publishers (NAICS 513199) industry would be around $2.50 per $100 of payroll. This price was derived from analyzing industry accident rates, injury frequencies, and average indemnity and medical costs to determine an appropriate risk factor. The industry has lower than average risk.

Estimated Pricing: $2.50 per $100 of payroll

Business Interruption Insurance

Business interruption insurance provides crucial financial protection for companies in the All Other Publishers NAICS code 513199 industry in the event their operations are interrupted by unexpected events outside of their control such as fires, storms or equipment failures. It ensures businesses in this category can continue operating and paying expenses until full operations resume. This type of insurance also helps protect business investments, reduces the financial impacts of disasters, and gives owners peace of mind knowing the business is protected from unpredictable events that could otherwise threaten its long-term survival. On average, businesses in NAICS 513199 can expect to pay around $3.50 per $100 of gross revenue for adequate business interruption coverage.

Category List
Benefits
  • Continued revenue and cash flow if business operations are interrupted
  • Cover losses from events like fires, storms, cyber attacks
  • Reduce financial impact of disasters and interruptions
  • Protect business investments and assets
  • Maintain employee payroll and benefits during operational disruptions
  • Provides funds to resume operations after an event to minimize long-term financial losses
  • Peace of mind knowing the business is protected from unpredictable events
Use Cases
  • Loss of income due to property damage from storms, fires, floods or other disasters
  • Loss of income if equipment like printing presses or computers fail or need repairs
  • Loss of income if a supplier fails to deliver necessary materials on time
  • Loss of income due to the temporary loss of key staff such as editors or graphic designers
  • Loss of income if there is damage to office space due to events like burst pipes or electrical issues that disrupt operations

Based on industry analysis, the average business interruption insurance pricing for publishers in NAICS 513199 is estimated to be around $3.50 per $100 of gross revenue. This price was derived based on the typical risk profile of publishers in this category, which usually involves lower property and equipment value but higher revenue volatility risks compared to other media industries.

Estimated Pricing: $3.50 per $100 of gross revenue

Cyber Liability Insurance

Publishing businesses handle sensitive customer data and rely on technology. Therefore, cyber liability insurance is an important risk management tool to protect them financially from cyber incidents like data breaches and network security issues. Cyber liability insurance would help cover costs of responding to incidents, regulatory fines, network security issues, business interruption, crisis management, and lawsuits. The average annual premium for a policy would be approximately $2,500 based on typical pricing models for businesses in this industry segment.

Category List
Benefits
  • Covers costs of notifying customers of a breach and providing credit monitoring
  • Pays for costs of investigating the cause and extent of a cyber attack
  • Covers legal fees and settlements for lawsuits alleging privacy violations or failure to safeguard customer data
  • Pays for costs of restoring or rebuilding electronic files and systems in the event of a ransomware attack or system failure
Use Cases
  • Data breach response costs including legal fees, credit monitoring, call centers
  • Regulatory fines and penalties for failure to safeguard data
  • Costs associated with a network security failure or hack
  • Business interruption costs from network downtime
  • Crisis management in the event of a data breach
  • Coverage for lawsuits by customers related to a data breach

Based on typical pricing models for businesses in the NAICS 513199 industry (All Other Publishers), the average annual premium for a cyber liability insurance policy would be approximately $2,500. This estimate was derived considering average revenue levels, number of employees, and common policy limits for businesses in this industry segment. Cyber risk exposures tend to be moderate given the nature of business operations for publishers.

Estimated Pricing: $2,500

Commercial Umbrella Insurance

Commercial umbrella insurance provides businesses in the publishing industry additional liability protection above their regular commercial policies. It helps protect against costly lawsuits and risks that are more prevalent in this industry, such as copyright infringement claims. Some key benefits of commercial umbrella insurance for publishers include providing protection from intellectual property claims, demonstrating adequate financial responsibility to clients and partners, and protecting personal assets from liability lawsuits related to the publishing content. Common use cases where umbrella insurance is useful include providing excess coverage above primary CGL limits, covering defamation or privacy violation risks from published content, and protecting from costly intellectual property infringement claims. Estimated pricing for umbrella insurance for publishers is $1,000-$2,000 annually based on a $1M CGL policy and no major loss history.

Category List
Benefits
  • Provides additional liability protection above your commercial general liability or auto insurance limits
  • Protects personal assets from costly lawsuits
  • Covers liability exposures not covered under other policies
  • Provides one high limit to protect multiple business locations and commercial vehicles
  • Covers legal defense costs above your primary insurance limits
  • Provides broader liability coverage than primary policies
  • Helps manage risks unique to the publishing industry like copyright claims
Use Cases
  • To provide additional liability coverage above the limits of the underlying commercial general liability (CGL) policy
  • To protect the business from personal injury/libel claims related to the publishing content
  • To protect from intellectual property claims such as copyright and trademark infringement
  • To protect the business from costly lawsuits
  • To demonstrate financial responsibility to clients and business partners

Given that businesses in the All Other Publishers industry (NAICS Code 513199) tend to have lower risk exposures compared to other industries, commercial umbrella insurance for these businesses is estimated to be priced around $1,000 – $2,000 annually. This pricing is calculated based on an assumed underlying commercial general liability policy limit of $1M with no major loss history.

Estimated Pricing: $1,000-$2,000

Conclusion

In summary, while insurance requirements can vary based on individual company needs and state regulations, the insurance types discussed here offer valuable protection for common risks faced by businesses in the NAICS 513199 industry category. Taking time to understand insurance options and properly insuring your business can help minimize financial losses from unexpected events and protect the long-term viability of your publishing operations. Other specialized policies like Commercial Umbrella insurance can further enhance coverage levels. Consult an insurance professional to identify all necessary insurance types and appropriate policy limits based on your unique company exposures.

Frequently Asked Questions

Share via
Facebook
X (Twitter)
LinkedIn
Mix
Email
Print
Copy Link
Copy link
CopyCopied