Specialty Insurance Blog

Customer Assistance – Handling Social Media Complaints & Avoiding a Suit

Your customers may have adverse posts on social media sites, and appropriating handling these complaints can go a long ways towards avoiding a suit and an insurance claim. A Forbes article (see here) provides tips on how and how not to handle social media complaints. Avoid triggering the Streisand Effect (intimidation, litigation) Reach out directly to online complainers – with a thoughtful and positive response Avoid the social media fiasco formula – respond quickly Prevent online complaints in the first place – through accessibility, not through force or legalese Other articles on responding to social media complaints can be found here and here. Tennant Risk Services is a specialty wholesale broker and underwriting manager, and delivers expertise, markets and exemplary... Read more →

The Cyber Risk Insurance Market – Update

The Cyber Risk Insurance market has been growing rapidly (see our prior post), and is now estimated at $2.5 billion for 2014. This market estimate is from a study entitled Insight Report: The Future of Cyber Risk Insurance by Timetric (see here & here). The report also estimated total global cyber crime losses at $445 billion. As the Insight Report notes, Cyber Risk Insurance (also called Data Breach Insurance, Privacy Insurance or Network Security Insurance) is an essential coverage to protect from data breaches and attacks of all types, and coverages is available at reasonable pricing for businesses of all types. Tennant Risk Services is a specialty wholesale broker and underwriting manager, and delivers expertise, markets and exemplary services to... Read more →