Sometime last year, statisticians informed the world that 1 out of every 5 people has suffered a bout of online harassment. An insurance company took note – and now “cyberbullying insurance” is a thing.

Digital Age Woes Lead To New Insurance Possibilities

In these, our digital days, online harassment and Internet defamation can cause titanic-sized problems – for both individuals and businesses. Recognizing the 21st-century hardship, international insurance conglomerate, Chubb, developed a unique – and, of course, potentially profitable – way to mitigate the cost of these complications: “cyberbullying insurance.”

Till now, insurers have offered little in the way of online harassment coverage. Sure, some personal injury packages included codicils for litigation costs, but Chubb is the first to offer preemptive cyberbullying insurance.

A Chubb spokesperson explained:

“We wanted our policies to reflect the changing nature of the risks that policyholders may face, often against themselves rather than their possessions […] So we still help to restore homes, cars and belongings that have suffered physical harm or damage, but increasingly it’s about the person and how they cope.”

So, what benefits do cyberbullying insurance holders enjoy? Participants can use the coverage to:

1. Seek medical help – both physical and mental.
2. Subsidize income in the event of a necessary psychological sabbatical, induced by online harassment.
3. Relocate in the event the cyberbullying follows you offline.
4. Hire an attorney or forensic specialist in service of a lawsuit against the harasser.
5. Employ an online reputation manager to clean up – or at least bury – any reputation-damaging posts.

Only The Well-Heeled Have Access To Cyberbullying Insurance At The Moment

So, can anybody buy Chubb’s cyberbullying insurance? Unfortunately not. At the moment, it’s limited to residents of the United Kingdom and the Republic of Ireland. Plus, only people with high-end home insurance packages can add the coverage to their bundles.

Does Chubb Have Plans To Extend Its Cyberbullying Insurance Efforts?

So far, as discussed, Chubb is only rolling out the online harassment insurance option in parts of the U.K., and not as a standalone product. That said, if the program proves fruitful, other insurance agencies will most likely follow suit, in short order.

How Can I Get Online Harassment or Cyberbullying Insurance If I Don’t Live In Chubb’s Coverage Area?

As mentioned, at the time of this writing, few individuals are cyberbullying insurance eligible. However, if you’re anxious to get this type of protection:

1. Call your insurance agent. Who knows, he or she may be able to abracadabra your current coverage and conjure up a custom cyberbullying package, just for you.
2. Currently, some stateside insurers offer packages to entrepreneurs and businesses that are looking for an online reputation safety net. They may not be labeled as “online defamation insurance” or “cyberbullying insurance,” but can still be applied to litigation and professional expenses related to online reputation assaults.

All businesses – big and small – should consider some form of legal insurance. After all, you never know when a rogue client – or competitor – will litter the Internet with terrible, financially damaging, false reviews. Protect your livelihood and income stream.

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Kelly Warner is a top-rated boutique law firm that works with entrepreneurs, startups and established businesses in the marketing and tech spaces. To learn more about our practice, click here.

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