Brits Can Finally Buy Social Media Insurance From ALLOW

| September 20, 2012 | 8 Comments

ALLOW, an information privacy company, has launched UK’s first social media insurance so customers can deal with problems such as reputation damage, account theft and identification theft. This new insurance cover will pay all of their subscribers’ legal advice and support should there be a claim.

ALLOW Announces UK’s First Social Media InsuranceThe social media insurance covers legal assistance and help from online search experts to find and remove damaging material. This is also called ‘reverse SEO’ and normally would cost thousands of pounds which most consumers cannot afford.

Cases of account hacking, hijacking and reputational damage have been increasing and anyone who has been through this type of problem knows that this is not an easy thing to deal with.

The events that are covered by this new insurance from ALLOW include:

  • Disabling an account that belongs to a subscriber that has been hijacked.
  • Professional reputational damage and to delete offending content.
  • A claim made by a financial institution, merchant or collection agencies.
  • The requirement to remove criminal or civil judgements against the subscriber that was entered against them because of online fraud and identity theft.
  • The need to create documents to prove the innocence of the subscriber from financial irregularities unlawfully committed in their name.

The amount insured is GBP 10,000 in professional fees and other fees for any incident that involves identity theft or account hijacking or GBP 3,500 in fees for any reputational damage done to the subscriber.

The policy does not provide cash pay-out but ALLOW and its partners of search experts and online fraud will provide all of the services mentioned for the subscribers should there be a claim.

The insurance coverage costs GBP 3.99 per month and will help subscribers with Facebook protection and privacy, data protection, spam mail protection, and protection against identity theft.

Key Stats

  • GBP 10,000 in professional fees and ancillary costs for any one incident of identity theft
  • GBP 3,500 in fees for any reputational damage sustained
  • ALLOW Protect costs GBP 3.99 per month

Justin Basini, ALLOW’s CEO: “There are more cases of hacking, account hijacking and reputational damage emerging all the time. Anyone that has suffered as a result of having their identity stolen or a third party taking over their accounts will know that this can be a distressing and arduous process to put right. We’ve got the solution. “This is a unique piece of consumer social media protection, which perhaps wouldn’t have been needed a few years ago. That’s all changed now. Every internet user faces a certain level of risk that one day a digital criminal will target them or that they will suffer damage to their reputation.”

Source: finance.yahoo.com

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With the rampant cases of account and identity theft and online fraud are you willing to get this insurance for yourself to make sure your privacy is protected and get some peace of mind?

How comprehensive do you find ALLOW’s social media insurance product?  Is it worth paying a premium for?  Are you expecting more for your money?

Join the conversation here or on our Facebook page.

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Category: Social Media

About the Author ()

Based in London, Christophe is an entertaining social media keynote speaker and a trusted advisor to the global financial services industry on the topics of social media, social business and digital innovation. Christophe has contributed to over 140 events in 18 countries.

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