Bulstrad insures the freedom of speech
For the first time in Bulgaria Bulstrad Plc launched a Media Risk policy in support of independent and fair journalism in Bulgaria. The insurance covers the risks faced by the media while discharging their professional duty to provide the public with fair and correct information.
In Great Britain only in the last year court decisions had been passed for libel, misrepresentation and infringement of rights against some newspapers, such as the Daily Telegraph, the Sun, the Guardian, the Independent and the Times. And this is just a small part of the lawsuits against the news business in Europe.
The launch of the Media Risk insurance was made just in time to support the media in their endeavour to comply with the Code of Ethics of the Bulgarian journalists and the harmonization with the European media legislation.
The first insurance contract for media protection of BTA is issued for one-year period. According to the statute adopted by the National Assembly the Agency is an objective and independent media.Based on this document the insurer considers that it will undertake very small insurance risk.
The following risks are covered under the Media Risks policy
- Libel and Slander
- False attribution of authorship;
- Passing off;
- Infringement of any intellectual property rights including copyright, trademark, patent rights;
- Breach of confidentiality.
The above risks shall arise from the activities of the media and shall be subject to the Bulgarian law.
The Chief executive of Bulstrad Rumen Yantchev explained that due to the correct and fair information to the public BTA shall represent the smallest insurance risk
According to the media expert Georgi Lozanov “The insurance is a certain protection against fear and censorship. It will support the media in their measures for compliance with their Code of ethics and the harmonization with the European media legislation.”
As a part of the campaign on 25 July in front of the building of BTA a 3-metre statue was unveiled, which is created by Stavri Kalinov and is named the Truth about the Pen.