Staying Afloat in a Sea of Social Media Lawsuits

For businesses, small and large alike, having an online and social media presence is not only a competitive advantage, it is absolutely imperative. This competitive edge enables businesses to engage with customers directly and build their brand, however, they also leave businesses vulnerable to potentially expensive legal actions.

What your business puts online, from disparaging comments about a competitor to copyrighted information, your company is liable.

Cyber Liability

In order to best protect your business, acquiring media-liability coverage under a cyber liability policy usually offers the best coverage for these potential threats. The things that a cyber policy can typically cover are things related to network security and business interruptions due to a breach. All policies are not alike though, and need to be researched thoroughly as this is market is new and emerging.

Company Policy

Although carrying an insurance policy is a great way to combat potential cybersecurity losses, promoting a social media company policy can help to create a solid foundation for employees to become educated on ways to minimize risks in and outside of the work place. An effective policy may include points that target online security measures, guidelines on how company information is shared, and even the acceptable uses of social media as it pertains to their job.

Blog Safety

Review, review, and review again. This is one aspect of your company that may require the advice of a legal professional in order to avoid giving advice or opinions that can be seen as a negligible act. Information in your blog is something you can be held responsible for as a company, and even media insurance may only potentially cover you in the event of loss.

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