Social Media Boosts Business Risk, Insurance Survey Finds
Because more small- and medium-size companies are incorporating social media into their businesses, insurance professionals believe their clients’ risk exposure will grow in the coming year, according to a survey released by specialty-insurer Torus.
In a survey of 105 insurance professionals conducted during the Nov. 7-9 Professional Liability Underwriting Society conference in Chicago, 58% say they expect to see an increase in requests for media-liability policies to mitigate social-media risk. Of that number, 16% believe the increase will be significant. Thirty-six percent say they don’t think there will be a change in the number of requests, while 6% believe requests will decrease.