Johannesburg, Gauteng, 1 April 2017 – There are several cases of South Africans posting comments on various social media platforms that they believe are innocent, but which have been deemed inappropriate and offensive by the public. With this in mind, Acuideas and their client SHA Specialist Underwriters have developed a social media liability cover product – the first of its kind in the country.
Social Liability Insurance Policy (SLip uP) is a product that consumers can purchase to cover the legal fees and damages associated with defending themselves against allegations of privacy invasion or defamation of a third party via social media.
“People can quickly find themselves in trouble for their comments on social media,” says Sujeeth Bishoon, Executive Head at Acuideas. “Not only do these comments cause embarrassment but in some cases they can have devastating consequences in the person’s personal and professional life. For this reason we recommend that brokers talk to their clients about a Social Liability Insurance Policy.”
SLip uP is aimed at individuals and their children, and it covers the legal costs of a person defending themselves against potential defamation suits and the settlement fees if the case is lost. There are specific exclusions where the policy does not cover defamatory or offensive comments that relate to race, religion or culture.
Children are often unaware of the consequences of their actions on social media, but with SLip uP, parents can cover these actions. There are also cases where a person is not the originator of the content, but has shared or liked the post, and they can be held accountable for their endorsement.
“As communication evolves, it forces the insurance industry to do the same and this is why Acuideas dedicates significant resources to product development. While everyone should realise there are serious consequences to their actions on all social media platforms, this liability insurance gives peace of mind that you are covered when you slip up,” says Bishoon.
SLip uP is only available through SHA brokers. It can be purchased as an add-on to an existing domestic portfolio. The product is available for R10 a month, with cover up to R500 000 a year.
Acuideas is borne of an insurance broking house, which gives it a great advantage: the company speaks and understands the pressures and needs of brokers. What makes Acuideas different is that they provide both the independent broker and the product provider with new and innovative ways of doing business. For more information visit www.acuideas.co.za or call 011 912 7300.
PRESS RELEASE ISSUED BY: