Tweet this

2010 PLUS International Conference

TWEET THIS!

EMERGING

LIABILITY IN THE

AGE OF SOCIAL

MEDIA


Introduction

About Social Media

Legal Issues

Coverage Considerations

Risk Management

To help you talk more confidently about

social media risk and insurance to your

clients and colleagues

Objective


Introduction: Who We Are –

A Social Graph…

Ateeya Tim

Michael

PLUS

TimKevin

Bilal

Ateeya

Tom

Bilal

Tim

Michael

Kevin


Graphic: Intersection Consulting on Flickr

The Social Business Ecosystem


Semantic Web: A Way to Represent all

Kinds of Information, Where Ever it is

on the Net

Bilal.ca

Blog

Mashable

Web news

site

Ateeya

Person

Bilal

Person Sky Yard

Bar

Social

Media

Topic

123.JPG

Photo

Anthony

Person

Tim

Person

Starbucks

Coffee

Bookmarked

Friend of

Depiction of

Depiction of

Fan of

Reads

Drinks Author

Fan of

ReadsFriend of

Who knows about social media?

Drinks

Discussed

2010 PLUS International ConferenceSource: The Conversation Prism, Brian Solis

The Conversation Prism


About Social Media:

Why We Must Pay Attention


University of Maryland’s Smith School of Business Study: social media technology adoption rates in the U.S. have doubled in the past year from 12% to 24%. It is expected to grow even more as the social platforms get more mainstream.

Mediapost / FedEx: 36% plan of SMBs to utilize social media/networking websites to build business in 2010.

Emarketer: More than one-quarter of the above said blogs, LinkedIn and Twitter were other key tools for marketing their business.

Jeff Bullas Blog: A survey of 1,711 “small business decision makers” found “all use at least one social media resource for business-relevant information. The overall average number of social media resources used by participants in this study is 5.9.

About Social Media and SMBs:

Why We Must Pay Attention


The Many Faces of Social Media –

as seen by...


Another Justin...

and Social

Media

Phenomenon


as seen by...



as seen by...


Legal Matters

Legal Issues Implications

Section 230 federal immunity for third

party authored content

DMCA - Copyright Notice and Take-

down

Privacy

Data Breach

FTC Oversight

Libel

Fines & Penalties

Injunctions

Oversight /Remediation requirements

Damage to Reputation

Criminal Indictments

Precursor to Civil Liability


Coverage Considerations:

Exposures

Commerce Content Infrastructure

AccessE-commerce theftCustomer behaviorJurisdictional/lawTrustConfidentialityIdentityDigital moneyNon-traceability of

transactionsRegulatoryTaxUnfair trade practicesCustomer awarenessCustomer choiceQuality of dataInformation protectionFailure to provide

promised services

Data securityPrivacyConsumer accessLegitimate useAuthenticityNon-reputabilityBusiness practice

disclosureTransaction Integrity /

reliabilityFraud and ID

theftBusiness designOld TechnologySnoopingCorruptionMisuse of

informationPersonal threatsErrors and

Omissions

Inappropriatecontent on company servers

Customer behavior

Domain name hijacking

TrustCybersquattingConfidentiality and identity

SecurityRegulatoryLoss of tradesecrets

Unfair tradepractices

Customerawareness

Personal threatsJurisdictional /law

Infringement ofIntellectual property

Privacy

Customer choiceQuality of dataSecurity of dataConsumer accessLinking and framing risk

Meta-tag abuseLegitimate useInformationprotection

SnoopingIdentity theftCorruptionMisuse ofinformation

Errors andomissions

Customer Information

AccessReliabilityPerformanceJurisdictional / law issues

TrustSecurity of dataPrivacyRegulatoryDefectivehardware /software

Legitimate useBusiness designTechnology obsolescence

Physical damageEfficacy


Coverage Considerations:

An Insurance Approach to Risk

Damage to our

computer systems

could severely

impair our ability

to manage our

business.

Our business may be harmed if

our computer network security

is compromised.

Our failure to

successfully manage

our online

businesses could

have a negative

impact on our

business.

We are dependent on third parties for critical business functions, and their

failure to provide services to us could have a material adverse effect on

our business and operating results.

Media & Intellectual

Property

Privacy &

Technology

E-Commerce

Vendor

Management

We may be unable to protect our

trademarks and other intellectual

property rights.

2010 PLUS International Conference 16

Coverage Considerations: Where

We Are Today

PRIMARY

MARKETS

EXCESS

MARKETS

COVERAGE

RETENTIONSINT’L

ISSUES

CAPACITYPRICING

SOCIAL MEDIA

MARKETPLACE

Declining

Stable / Unchanged

Improving

Soft Market is

differentiating

Abundant and

increasing:

$200 million+

Rising for

insureds/classes

with claims;

otherwise stable

More than ever for small to

medium risks; only a handful

for

large, complex risks

Competition resulting

in improved terms

and pricing

Contractual

requirements

for local

policies

increasing

Differentiated


Social Media Risk Management


Your open and social organizational culture is your competitive advantage.

IBM: A Social Media Case Study


IBM: Reasons to Participate

www.ibm.com/blogs/zz/en/guidelines.html

Responsible engagement in innovation and

Dialogue

To learn

To contribute

Brand is best represented by its people

Word of Mouth, #1 Influencer in Business Purchasing Behavior

http://www.ibm.com/blogs/zz/en/guidelines.html


Quickly find the people you need by searching across your organization using keywords that help identify expertise, current projects and

responsibilities

Use a weblog to present your idea and get

feedback from others; learn from the expertise and experience of others

who blog

Organize your work, plan next steps, and easily tap your

expanding professional network to help execute your everyday

deliverables, faster

Activities

Create, find, join, and work with communities of people

who share a common interest, responsibility, or

area of expertise

Home

Wikis

Provide a place for groups of people to

jointly create and maintain content

through contribution and collaboration.

FilesShare your files with your colleagues. Everyone can

store, share, and collaborate on files.

Save, organize and share bookmarks; discover

bookmarks that have been qualified by others with

similar interests & expertise

Blogs

Communities

Bookmarks

Profiles

Social Collaboration

helps people work smarter


The Impact of Social Collaboration

*Source: IBM Community of Practice Business Impact Survey completed by approximately 2,300 respondents.

IBM social software benefits acknowledged by

% of survey respondents

87%

84%

84%

77%

74%

42%

60%

65%

65%

0% 20% 40% 60% 80% 100%

Increased skills

Accessed experts quicker

Shared know ledge w ith others

Reused assets

Increased productivity

Improved personal reputation

Increased sense of belonging

Increased sales

Improved customer satisfaction


Never discuss Corporate business performance

Don’t cite or reference clients, partners or suppliers without their approval

Don’t publish anything that might allow inferences to be drawn which could embarrass or damage a client

Respect your audience

Don’t pick fights and be the first to correct your own mistakes

Try to add value

Don’t use Company logos or trademarks unless approved to do so

Know and follow Business Conduct Guidelines

Employees are personally responsible for the content they publish on-line

Be mindful that what you publish will be public for a long time

Identify yourself – name and, when relevant, role at the Company

You must make it clear you are speaking for yourself and not the Company

Respect copyright, fair use and financial disclosure laws

Don’t provide the Company’s or another’s confidential or proprietary information

Current IBM

Social Computing Guidelines


IBM: Rules of the Road

www.ibm.com/blogs/zz/en/guidelines.html

Be professional

Follow Business Conduct Guidelines

Speak for yourself, not for the

Company

Respect copyrights, laws, and other

people

Add valueWord of Mouth, #1

Influencer in Business Purchasing Behavior

http://www.ibm.com/blogs/zz/en/guidelines.html

Tweet this

Business

Transcript of Tweet this