As more and more business advertising, marketing, and promotions take place on social media, it becomes essential that we pay attention to the liability risks associated with such online communications. At Blue Lion Insurance Advisors, LLC, in Red Bank, New Jersey, our primary goal is to ensure that your company is protected from the high costs of potential losses. Therefore, we make it a priority to investigate all possible risks that threaten your business, including those that originate in cyberspace.
Because we do not represent a particular insurance company, we can provide objective guidance regarding the best insurance policies at the lowest prices. Contacting us is a good first step towards making your business safer and more resilient in the face of social media dangers.
While most business owners are aware that social media slips may be seriously damaging to their reputations, many are unaware of the very real risk of lawsuits following such blunders. Whether or not Facebook, Twitter, Pinterest, and Instagram are public forums is still up for debate in the courts, but regardless there may be serious consequences to careless social media postings.
Social Media Vulnerabilities Your Business May Face
Among the types of social media risks your company may encounter are those that result from:
- Posting copywritten content without permission
- Publishing content that defames another person or entity
- Publishing words or images of someone endorsing your business (products or services) without their explicit permission
- Duplicating the advertising of another individual or company
No matter how careful your hiring practices or your employee training, there are bound to be slip-ups. The above-mentioned transgressions, known as “advertising injuries,” have a way of sneaking under the radar. Blue Lion Insurance Advisors, LLC is here to help you find a comprehensive General Liability Policy to protect you from expensive lawsuits resulting from social media advertising mistakes.
Serious Risks Presented by Social Media Use
There are certainly many positive outcomes to using social media to broaden your client/customer base, increase your reputation, and keep your current accomplishments in the public eye. Nonetheless, a single serious social media mistake can have dire consequences for your firm, including:
- Loss of Intellectual Property (IP) and sensitive data through leakage, identity theft, viruses, malware, or phishing scams
- Loss of reputation as a result of inappropriate comments by your staff or negative reviews by your customers
- Compliance violations, like infringement of trademarks and copyrights violations of privacy rights of clients or employees
- Improper financial disclosure that may impact stock prices or violate insider trading regulations
- Increased competition from other firms that get a close look at your marketing strategies and exploit their insights (remember — even small startups may have high-tech staff members more gifted than your own)
- Fraudulent activity by others who deliberately misrepresent themselves, perhaps even illegally using your company name or logo, or who use your customer or employee complaints against you in their marketing plans
Our Skilled Insurance Advisors Can Offer You a Choice of Excellent Insurance Options
In addition to a strong General Liability Policy, we may also recommend:
- Errors and Omissions (Professional Liability) Insurance Policy — a more specialized form of liability insurance that can protect you against legal claims that you failed to fulfill your professional duties, e.g., as a consultant, financial adviser, insurance agent, or attorney.
- Cyber Liability Insurance to protect your business from data breaches of all kinds. Sometimes errors and omissions policies are bundled with cyber liability policies into a single, more affordable package.
- Media perils insurance policy to protect you from lawsuits for intellectual property infringements and libel.
Although there are multiple potential threats embedded in your company’s use of social media, you can undoubtedly face worse difficulties if you choose not to participate. Let’s face it, social media has become a part of every business in the 21st century.
Your best bet to protect your business is to hire trustworthy personnel, provide thorough training about social media pitfalls, and oversee your company’s social media use carefully. More than that, make sure to contact Blue Lion Insurance Advisors, LLC for the informed, effective guidance that can make your company’s insurance policy Blue Lion Strong™.
Why Blue Lion Insurance Advisors, LLC Is the Right Firm to Contact
Because our experienced insurance advisors are dedicated to meeting your needs rather than those of typical insurance companies, we are free to guide you towards insurance products that will serve your best interests. We do not “push” particular policies; instead, we act as advisors whose goal is to provide you the most suitable, cost-effective General Liability Insurance Policy. So why not protect your business with an insurance policy that is Blue Lion Strong™! Please contact our office today at (732) 649-1600 or use our convenient online form to find out why New Jersey residents have been trusting our insurance agency. You can also contact us online.
Schedule an appointment today to have an advisor give you a complimentary evaluation of the coverage you currently have. Do not wait until you need this protection to find out you are not covered.