Nashville Songwriters, Frost Specialty Offer Copyright Infringement Insurance

July 16, 2009

The Nashville Songwriters Association International (NSAI) and Frost Specialty have created a group Copyright Infringement Insurance policy for songwriters, artist-songwriters, composers and music publishers.

NSAI President, Grammy-nominated songwriter Steve Bogard said the policy promises to make the coverage affordable for more songwriters with lower coverage limits and reduced premiums from what is typically available.

“Until now, this kind of coverage was cost prohibitive or unavailable to most songwriters,” said Bogard.

He said that typically a songwriter or composer had to purchase a minimum of $1,000,000 in infringement coverage “when in fact, the majority of infringement claims are resolved for less than $100,000.”

But the new NSAI/Frost Group Copyright Infringement Policy will offer coverage amounts beginning at $100,000 for less than $1,600 annually, an amount of coverage that Board says should provide adequate protection for most songwriters and composers.

For those who require more coverage, the premium for $1 million under the NSAI/Frost group Copyright Infringement policy will be roughly $12,000. NSAI said that current marketplace rates can cost up to two times that amount.

The policy also offers a provision that will allow songwriters to be involved in the decision to settle claims.

“With the buying power of 5,000 association members we were able to design a program to meet the insurance needs of songwriters. This product is a first in the marketplace as it provides coverage designed to protect the songwriter, the ability to offer limits from $100,000 to $1 million, extremely competitive premiums and a simplified application process,” said Frost Specialty President Robert Frost.

The Nashville Songwriters Association International (NSAI) is a not-for-profit songwriters’ trade organization. Established in 1967, the membership of more than 5,000 spans the United States and seven international countries.

Frost Specialty is a third generation insurance agency and music industry specialist. It is located on historic Music Row in Nashville.

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