Allow launches social media insurance
Allow Ltd, a London-based company focused on helping people protect the privacy of their personal data, has launched the UK’s first social media insurance for consumers.
The firm offers services to deal with social media account hacking, reputational damage and other types of ID theft.
With Facebook accounts being hacked at a rate of 600,000 a day worldwide, the market for Allow’s products is huge.
Allow combines traditional legal assistance with a ‘reverse SEO’ service which locates and eliminates offending online material.
Justin Basini, chief executive at Allow, said: “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.”
The new social media insurance will be a £3.99 add-on to the existing Allow Protect service.
Allow Protect includes services such as Data Shield which warns if personal information is exposed and Browser Protection which prevents online activity being tracked.
Allow offers its social media insurance in collaboration with Legal Insurance Management.
Insurance products for the commercial social media user have been available for some time.
The types of insurance products available are constantly changing along with society, as Aviva has illustrated by opening its archives on unusual insurance claims over the past one hundred years.
Back in 1900s horses rather than computers were involved in many insurance claims.
One of the more unusual cases revealed by Aviva involved a hungry horse who munched his way through a car’s soft-top in 1957.
Aviva started life as the Hand in Hand Fire and Life Insurance Society, way back in 1696.