Social Media and Cyber Liability

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Information about Social Media and Cyber Liability
Business & Mgmt

Published on March 21, 2014

Author: jujubrenda

Source: slideshare.net

Description

Social media, cyber liability, and how the two connect.

SOCIAL MEDIA & CYBER LIABILITY By Brenda Wells, Ph.D.,CPCU, AAI

LET’S BEGIN WITH A REALITY ABOUT THE PASSAGE OF TIME…. 2

IN THE 1950’S… DECENT SOCIETY WAS EXPECTED TO END BECAUSE OF…. 3 Copyright2014--BrendaWells

4 Copyright2014--BrendaWells

5 Copyright2014--BrendaWells IN THE 1960’S, HIPPIES WERE CONSIDERED HOPELESS… THEN? THEY GREW UP

6 Copyright2014--BrendaWells

7 Copyright2014--BrendaWells CHANGE IS GOOD… DON’T BELIEVE ME?

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10 SO WHAT IS THE DEAL WITH SOCIAL MEDIA?

WHO IS USING SOCIAL MEDIA? Smallbusiness owners/entrepreneurs People looking for work Government Nonprofits and community groups Employers Students Schools EVERYONE??? 11 Copyright2014--BrendaWells

Social media& blogs reach 80% of U.S. internet users Source: http://www.slideshare.net/HubSpot/social-media-is-a-lot-like-sex

BLOGS  Websites with regular entries that might include  Commentary  Education  Eventinformation  Graphicsandvideos  Linkstoothersites Guess how many blogs there are? Over 200 million!!! 13 Copyright2014--BrendaWells

FACEBOOK September 2013: 1.19 billion+ users 14 Copyright2014--BrendaWells

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16 Copyright2014--BrendaWells

17 Copyright2014--BrendaWells

CYBER LIABILITY 18

 Liability coverage:  Damages fromloss orcompromiseof sensitive thirdpartydata  Patientrecords arepublished on theinternet  Credit carddatais compromised  Damage toa thirdparty’snetworkcausedbyyourown network  Yoursystem causesa breachof theirsecuritydueto spreading avirus  Damages causedby e-media  Disparaginguntruthfulremarks made abouta competitor on social media  Expense coverage:  Of notifyingeveryonewhose privacy hasbeen breached  Of providingcredit monitoring,restorationof stolen identity,etc.  Regulatory coverage:  Paysforcosts ofinvestigationbyfederal orstateauthoritiesas a result ofa data breach. 19 5 CYBER LIABILITY COVERAGES Copyright2014--BrendaWells

 Industry group coverage:  Pays finesassessed byindustry associations for data breaches  Example: Visa and Mastercardhave securitystandards. Ifbreached, the entity can befined.  First party coverage  Lossof revenuesdue to networkinterruptions  Cost ofrestoringdata 20 5 CYBER LIABILITY COVERAGES Copyright2014--BrendaWells

 Not dependent upon  Revenues  Products sold  Number oflocations  Instead it depends on how many records of private information you hold 21 Copyright2014--BrendaWells ASSESSING THE RISK

 3rd largest privately held US firm  $30 billion+ in revenues 22 Copyright2014--BrendaWells MARS, INC.

 Very small--$20 million in revenues… BUT….  Thousands of files, each of which may go back 10 or 15 years. 23 Copyright2014--BrendaWells LARGE MEDICAL PRACTICE

 Number of sensitive records  What is in the records  How much regulatory exposure exists  IT security controls in place  How many outside vendors have accessto the network  Does the company have a ‘holistic’ approach to cyber protection?  Everyone across the organizationshould beinvolved. 24 Copyright2014--BrendaWells WHAT DO UNDERWRITERS LOOK FOR?

 Require the trackingof legal bills, which mount quickly  Rapid assessment of whatis needed  A lost phone properlyencryptedmay not requirea huge expense for notificationandrecovery.  A lost thumb drivewithhighly-secretiveinformationonit can necessitate a majoreffort. 25 Copyright2014--BrendaWells CYBER CLAIMS

WHAT’S THE RISK WITH SOCIAL MEDIA? 26

….it’s SOCIAL! 27 Copyright2014--BrendaWells THE BIGGEST RISK WITH SOCIAL MEDIA IS….

 Release of confidential information  Especially risky in healthcare andlaw  Legal and regulatory compliance violations  Law isalwayschanging  Identify theft or high-jacking  Someone posing as you/your company, or,  Stealing confidential customer data and thencommitting identity theft  Liability for disciplining an employee over the use of social media (which is technically employment practices liability). 28 SOCIAL MEDIA LIABILITY RISKS 1/14/201

 Use information found on socialmedia to violate EEOlaws and protected classes  Use private and password protected sites without permission (Konop vs. HawaiianAirlines, 2002)  Prohibit employees from criticizing employer  Social media isthe “new watercooler”according to theNational Labor RelationsBoard.  Employee’s comments must be meanttoimproveworking conditions, and not just theventing of individual grievances.  Employees sharinga grievance? Can’t really do anything  A lone employee out complaining and groaning? Maybe (Probably?) 29 WHAT EMPLOYERS CANNOT DO 1/14/201

 Used social media to complain about his lackof raises  Complained about his “redneck” customers, wishing they’d choke on glass  FIRED. WHY?  Commentswerenot a protest against actual working conditions  Instead,theywerejustplain offensive 30 Copyright2014--BrendaWells FIRED BARTENDER

31 Copyright2014--BrendaWells

32 Copyright2014--BrendaWells

33 Copyright2014--BrendaWells

Off-dutyemployeewasinthe emergencyroomwhenhesawan attractivefemale. Hetooka pictureof herbacksideandposteditonFacebook. Hismessageread,"IlikewhatI like.“ Thewomanwas notidentifiedandher facecouldnotbeseen. Theemployeewhopostedthepicture was firedandso waseveryonethat likedit. 34 Copyright2014--BrendaWells SPECTRUM HEALTH (2013)

 Two nurses took pictures of a patient's x-raysshowing a foreign object lodged in one of hisbody cavities.  One of the nurses posted the pictures on a socialmedia site.  Both nurses were fired but no charges filed because the nurse took down her social media page and no evidence of a HIPAA violation was found.  The case was turned overto the FBI for investigation. 35 Copyright2014--BrendaWells YOU DID WHAT?

36 Copyright2014--BrendaWells

GOOD RISK MANAGEMENT 37

 Havea written,clear socialmedia policyforemployeestofollow. It mustexplain  Acceptable& unacceptable useduring workhours  Rulesregardingconfidentialityof employerinformationand stakeholders in general,such as customers  Clearconsequences for violationsof the policy  Employeetrainingiscriticalon  Cyberliabilityandwhat constitutesit  Social mediariskexposures  The company’s socialmedia policy  Alwaysalwaysalwayshavean attorneyconsultationbefore discipliningan employeeforsocialmedia relatedactions! 38 Copyright2014--BrendaWells AT A MINIMUM…

Brenda Wells drbrendawells@gmail.com www.facebook.com/insurancenerd www.ecurmi.com Phone: 252-481-2777

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