It’s a clear sign of recognition. Social media is a power so mighty that one needs insurance against it.
Chartis UK has announced it extends its D&O coverage to include risks resulting from confidential information disclosure in (micro)blogs, social networks and websites.
“The domination of the global news headlines by Wikileaks... is a vivid illustration of the power of social media” David Walters, vice-president for financial lines at Chartis, said. “Although the focus has been on government there is, however, no room for complacency for business. In a recent interview Julian Assange, Wikileaks founder, said that 50% of the leaked material they were holding related to the private sector”.
We are now proud to inform our readers that WAFT (Where Angels Fear to Trade) can now also cause a D&O loss. Anyone willing to share info leading to reputational damage for some company?
PS: With power, comes money. Here’s how much major companies are ready to invest in the next dotcom bubble.
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