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Anonymous
I take sponsored advertisement jobs from clients, and manage a small but growing team of talents. Primarily worried about defamation and clients suing.
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You should be looking at Professional Indemnity Insurance. This covers a whole range of business-related lawsuits, including:
This coverage pays for legal fees and damages, which can easily add up to several hundreds of thousands of dollars.
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Defamation coverage is especially important if you're running a media company. Your media talents may say or write certain things that can be misconstrued (e.g. making comments about a competitor's product to support your sponsor's product). You'll want this coverage to protect your company from potential legal action. This will also cover you if your clients sue you for mistakes made in your work.