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Is Social Media Increasing Your Company’s Cyber Liability?

 

Is Social Media Increasing Your Company’s Cyber LiabilityA new age has dawned in the world of business. Social media has become a great tool when it comes to advertising and interoffice communication and planning. Studies show that many small and medium sized businesses have increased their use of social media from 44 to 63 percent. However the increase in the use of social media does create New York Cyber Liability Risks.

Loss of information is one of the biggest risks of using social media for your business. Between a project’s information being accidentally leaked, or hackers obtaining personal information, there are many ways that personal and even confidential information can leave the safe confines of your office once you start using social media.

Another risk involved with the utilization of social media is company reputation. As fast as positive feedback about your business can spread via the Internet, backlash from a disgruntled employee or client can travel just as quickly. For companies that have not started using social media yet, there is also potential for someone to make a page using your name and bad mouth your company and your workers.

Usage of social media also runs the risk of raising compliance concerns when it comes to employee screening and HIPAA regulations. Personal information on an employee’s online profile can lead to discrimination charges if used in the event of hiring or firing decisions. Organizations that are subject to HIPAA regulations must make sure that there is no inappropriate sharing of private patient information.

With all the risks involved in using social media for your business, there are a few simple steps you can take to help reduce your cyber liability risks. For example, you can set up policies outlining proper security measures for posting at work, or even for how your employees are allowed to speak about the company off the company page. Most importantly, you may want to consider getting Cyber Liability Insurance to protect your business from losses due to hacking, copyright infringement, discrimination charges, and other issues that may stem from the usage of social media.

At A.J. Benet Inc. we understand the risks associated with social media usage. Call us today and ask about our cyber policies and how we can assist you. 888.639.4560

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