America’s biggest media liability underwriter is being bought by Axis Capital.

Kansas City-based Media/Professional Insurance provides insurance for media and entertainment companies to protect them against claims of slander, libel, and copyright infringement.

It is being acquired by Bermuda-registered insurer and reinsurer Axis Capital, which already has a media insurance division called Axis Pro.

It is intended the two units will be combined and boast a total of 125 employees working in that sector once the deal is closed sometime in the second quarter of the year.

At present Media/Pro is owned by Aon Underwriting Managers.

Axis Capital president and chief executive officer John Charman said: “Media/Pro has been recognised during its 27-year history as one of the premier specialist franchises writing professional liability lines of business. For the last two years Axis has served as the executive carrier for several Media/Pro errors and omissions liability programmes.

“The talents of the Media/Pro employee team, together with their highly regarded, differentiating product offering, are a terrific complement to our existing professional lines.”

Media/Pro will become part of the newly established Axis Select Markets division of Axis Insurance.

It is reported in the US that Media/Pro will continue to operate out of Kansas City with its current president Leib Dodell becoming chairman of the new combined unit and Axis Pro’s head Timothy Covello becoming the merged unit’s president.