Vermont Retirement Planners, LLC

54 Highland Avenue
Manchester Center, VT 05255
nick@vtretirement.com
(802) 367-3958

87 North Main St.
Rutland, VT 05701
nick@vtretirement.com
(802) 772-7945

Insurance Read Time: 2 min

Social Media: #NewestBusinessLiabilityRisk

The stories of social media fails are legendary—companies using inappropriate humor regarding serious social issues, typographical errors, and pop references that backfire.

These examples represent reputational issues that can affect your company’s brand and its sales.

The mistakes in social media marketing that make the headlines can obscure other forms of risks presented by social media, namely privacy violations, security breaches, unauthorized use of intellectual property, and employment-based claims, among others.¹

Liability Risks of Social Media

The risks that social media introduce to your business are generally not new risks, but conventional risks that are delivered in a more modern way.

In order to help manage the risks presented by social media use by your business, you should:

  • Create a social media policy for your company. Develop one for employees using social media for their job and another for employees using social media in their personal lives.
  • Don’t create your policy in a vacuum. Rely on the diverse talents of your employees.
  • Limit social media to designated spokespersons for better control over messaging.
  • Train all employees on your social media policy.

These risks may be covered by your existing business liability insurance, provided through a rider on your current policy, or obtained through the purchase of specialized coverage. Speak with your insurance agent to learn how to make sure you are adequately protected against the business risks of social media.

1. The information in this material is not intended as legal advice. Please consult legal or insurance professionals for specific information regarding your individual situation.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

 

Related Content

Where Is the Market Headed?

Where Is the Market Headed?

We all know the stock market can be unpredictable. We all want to know, “What’s next for the financial markets?”

Debt Stress

Debt Stress

There’s a link between debt and stress.

It May Be Time for a Financial Checkup

It May Be Time for a Financial Checkup

It’s never a bad time to speak with your financial professional about changes in your situation.

 

Have A Question About This Topic?







Thank you! Oops!

Filing Final Tax Returns for the Deceased

The federal government requires deceased individuals to file a final income tax return.

Don’t Be Your Own Worst Enemy

Emotional biases can adversely impact financial decision making. Here’s a few to be mindful of.

Saving on Subscription Service Costs

There are ways to improve your physical fitness without denting your fiscal fitness.

View all articles

Comparing Mortgage Terms

Estimate the total cost in today's dollars of various mortgage alternatives.

What Is the Dividend Yield?

This calculator helps determine your pre-tax and after-tax dividend yield on a particular stock.

My Retirement Savings

Estimate how long your retirement savings may last using various monthly cash flow rates.

View all calculators

Investment Strategies for Retirement

Investment tools and strategies that can enable you to pursue your retirement goals.

Your Cash Flow Statement

A presentation about managing money: using it, saving it, and even getting credit.

Principles of Preserving Wealth

How federal estate taxes work, plus estate management documents and tactics.

View all presentations

Leaving Your Lasting Legacy

Want to do more with your wealth? You might want to consider creating a charitable foundation.

What to Do When You Lose Your Wallet

Ever lost your wallet? Frustrating. Here’s what you can do to keep yourself safe.

Stay Safe with a B.O.P. At Your Back

Learn about the advantages of Business Owner Policies with this highly educational and fun animated video.

View all videos