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MSDIS CORNER
The study also shows the incidence of online harassment is higher (23 percent) among
16 and 17 year-olds, and that girls are more likely to be harassed or bullied than boys.
For both the victim and perpetrator, there
costs may include counseling expenses, individually and for the family, as well as medical treatment for any injuries resulting from bullying. Legal expenses may also be incurred.
Insurance carriers have begun to develop insurance protection for families due to injuries sustained from cyber-bullying.
Recently, a child of a USI client reported experiencing online harassment by a classmate. Through the advice provided by USI, the parents began to actively monitor the child’s online activity. As
a result, the family avoided any serious consequences from the verbal abuse their son was receiving. The expenses related to counseling were minimal, but more importantly, the child was kept safe and avoided additional damage to his self- esteem, grades, and overall well-being. The perpetrator also avoided serious legal issues and gained a better appreciation for the effects of cyber-bullying.
EXERCISING CONSTRAINT ON SOCIAL MEDIA
Social media allows individuals to share views and opinions on virtually any topic with a global audience.
For individuals who are unable to constrain their activities online, whether making inappropriate comments or sharing explicit photos, the potential
responsibility for libel, slander, loss of employment, and income. In addition, transmitting photos or videos of others without consent can lead to criminal and civil action against the individual who transmitted the material.
USI’s approach is to educate parents and children on social media etiquette and appropriate behavior, coupled with the use of software and active monitoring of activity on social media.
SECURING PERSONALLY IDENTIFYING INFORMATION
In 2014, a new identity theft victim was reported in America every two seconds as identity thieves lifted a total of $16 billion from 12.7 million consumers, according to a study by Javelin Strategy & Research.
While credit monitoring and protection systems are helping to catch and deter criminals, identity theft and fraud remain widespread, with hackers able to sell sensitive personal information for $9 to $40 per record. Driven by the high value of records on the black market, hackers continue to pursue vulnerabilities in technology, such as unsecured WiFi portals and mobile applications.
Among other things, USI advises clients and their families to not access public or unsecured WiFi portal. Other recommendations include:
C lose management of passwords for all financial accounts
N ever use names, dates of birth, current addresses or the word “password” for access to your accounts
I n d i v i d u a l s m a y p u r c h a s e coverage through a homeowner’s policy, or from credit card companies and other sources
A ny ID theft coverage must include active monitoring of credit activity with immediate notice of suspicious or unknown requests for credit.
advisor received an email alert from
a credit card company about several attempts to charge $3,000 on a card.
The advisor, who frequently monitors
his assets, reached out to his bank
and learned that $80,000 had been newly established fraudulent checking accounts.
Eventually this advisor, who had ID theft coverage, was able to recover all the stolen funds. In addition, through the coverage, he was able to work with an advocate to restore his credit, including notifying the Federal Trade Commission and IRS, and reviewing current credit reports to identify every piece of fraud to dispute. This client avoided more
than $106,000 in potential out-of-pocket expenses as a result of the coverage.
USI’s approach to internet and social media risks encourages proactive engagement with risk management specialists and constant education and information-sharing to stay abreast of this ever-changing risk.
CONTRIBUTING AUTHOR
■ KATHLEEN KENNELLY is a Personal Risk Specialist for USI Insurance Services.
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