Defamation Insurance is also called calumny, vilification, slander (for verbal statements), and libel (for written or published words). Defamation is generally considered to be the publication by any means of communication of material concerning an individual or organisation which either injures or lowers their its reputation in a business or profession. Defamation insurance is available to protect an organisation from the costs of damages successfully awarded against them, and legal expenses to defend any actions.