See the latest false advertisement claim in this article - MAKE-UP MADE WRONG


Marketing and Advertisements are all over the place.  TV, newspapers, radio, billboards, you name it.  One thing that marketing and advertising does for us is give us bits of information that entice us to purchase a product.  Purchasing products based on promises an advertisement gives us leads us to focus on that promise when using a product.  If a product promises something in an advertisement, they better be right!  Lawyers drool over the opportunity to pick apart these issues, so making an unsupported scientific claim is the worst thing a business can do.  So, for those of you who run a business, always take precautions when making claims about your products.  Also, keep in mind that you can have protection through an insurance policy to cover you for Advertising Injury.  See the excerpt below from one of my companies for more information on how we can cover your Media Liability.

Coverage can include:
  • Defamation: Arises from false information that is communicated to others and damages a person's reputation or business. Allegations made in lawsuits include libel, meaning defamation in print or by broadcast; slander, meaning defamation by way of oral communication; and trade libel, meaning print or broadcast defamation of a business or a product.
  • Product defamation: The demeaning of performance or value of a product.
  • Personal disparagement: Involves damage to community or business activities as a result of a publication or broadcast.
  • Invasion or infringement: Interference with the right of privacy or publicity including intrusion, public disclosure of private facts, unwarranted or wrongful publicity, false light, or the use of name or likeness for profit. Invasion of privacy laws vary widely from state to state, and the law often is unclear within a given state.


As always, if you ever have any questions, feel free to contact me at any time!
 
Texas A & M Star Quarterback, Johnny Manziel, has decided that he's worth $5 million in future earnings.  Ever heard of an athlete taking out an insurance policy on themselves to cover for injuries prior to the NFL Draft?  It's not uncommon.  Yet, uncommon for a Redshirt Sophomore...although, how many redshirt sophomoros have you seen with a Heisman trophy?  This insurance policy is being purchased from the  "Exceptional Student-Athlete Disability Insurance Program" through the NCAA.  Check out what Texas A&M coach Kevin Sumlin had to say in this excerpt from usatoday.com 

"I talk to players all the time about different issues in their lives and guys that for whatever reason, feel like they need to protect their interests professionally, they have insurance policies," Texas A&M coach Kevin Sumlin said. "There's ways to do that through the NCAA and like I said, there's probably more people than you think that have done that over the course of the last few years."

Protecting the bodies of superstars is NOT uncommon in today's society.  A group called the Lloyd's of London protect many celebrities and superstar athletes, providing insurance policies for their bodies because that is how they make their money.  It is just like buying insurance on your business....if your most valuable piece of business property gets destroyed, you better have an insurance policy to cover your loss of income and repairs.  It is also not uncommon for a profession team/organization to take out an insurance policy on a player.  This is similar to what businesses do when they want to place a life policy on an employee who is vital to the companies growth.  For example, Real Madrid bought an insurance policy valued at $144 million to cover their star forward Cristiano Ronaldo.  Why would they do this?  Because they make money off of their star players....they are who the fans pay to see.



Insurance policies do much more than the average person may realize.  Earning potential, debt, expenses, loss of use, and many many more factors come into play when looking into the broad spectrum of insurance policies in the industry.  Anything of value of which you possess, own, or have financial and/or emotional interest in can be insured by someone.