As social and business networking sites have taken off, data privacy has become increasingly more vulnerable. How can companies protect themselves while still taking advantage of what these new tools have to offer? In his latest online column, Joshua Gold of Anderson Kill & Olick examines the insurance and risk management measures that can prevent or mitigate unauthorized data access online.
Many forms of liability insurance protect against invasion of privacy claims. Should a policyholder be confronted by such a claim, umbrella insurance, general liability insurance, errors and omissions policies and other stand-alone specialty insurance policies should be checked for potential coverage. More proactively, if an insurance portfolio review reveals that those provisions have been written out of the businesses’ portfolio of insurance, the broker should be enlisted to get those increasingly important coverages back in.