Are You Suffering From Fake Insurance News?
Fake news has been around for some time. We have all been fooled by headlines and news reports that turn out to be fake. Fake news is defined as a completely made up story designed to manipulate the readers and to attract attention and advertising revenue.
William Atak, CEO of SafeOnNet, an insurer specializing in online reputational risk, said the potential for reputational harm increased significantly in recent years. Along with it, the potential for millions in lost profits. “Fake news has always existed. Only now, the perpetrators have the tools and knowledge to create stories at just the right moment and exploit social media and its algorithms,” he said.
Can fake news hurt your business?
Fake news has the potential to harm your businesses reputation, and even cause you to shut down. Here is a link to an article about how fake news affects business. Link to article
There is a solution to this growing issue, and that is reputation insurance. There is no question that a great deal of your firms’ value is derived directly from your reputation. This kind of insurance reimburses the company for the cost of crisis management expert fees up to a set amount, usually between $50,000 and $200,000.
Roussel Insurance & Financial Services is a recognized leader in the insurance industry. We offer highly competitive insurance rates for both business owners and individual services. With 32 years of experience, we continue to offer our clients exceptional service.
This information is intended for the client, individual or entity to which it is addressed. These articles contain concepts and opinions, and are not intended to represent the consensus of the insurance or risk community, nor to provide professional legal or tax advice. Please seek professional legal or tax counsel before making any decisions. The information provided does not change or modify any insurance policy, only the actual terms of the in-force policies will govern claim settlements.