Get instant
small business insurance quotes

Home > Professional Liability/Errors & Omissions Insurance > News

Social media becoming a greater risk for businesses


The growth of social media for business use has accelerated over recent years and has grown into one of the main concerns for many business owners. A Forbes and Deloitte Insight survey found social media has become one of the top five sources of risk for businesses.

Employers are becoming increasingly concerned about what employees are posting on social media sites and how they are responding to regulatory changes, which is why businesses worried about what their employees are posting should invest in professional liability insurance. These types of insurance policies mitigate risks from negligence claims of clients.

"Social media wasn't even on the radar a few years ago, and we're now seeing it ranked among the top five sources of risk, on the same level as financial risk," said Henry Ristuccia, co-leader of Deloitte's Governance and Risk Management services. "The rise of social media is just another contributor to the volatile risk environment companies are being forced to navigate."

With the amount of social networks and the age of smartphones, it would be wise for businesses to employ a company-wide social media policy.

WHY Business Insurance Now?

Learn why thousands of small businesses trust Business Insurance Now as their insurance agency.

Take 15 minutes to see how we can help you protect your business.

  • FREE, no-obligation quotes.
  • Complete one online application to compare multiple quotes.
  • Fast response—typically less than 24 hours on week days.
  • We are a nationwide insurance agency covering 48 states.
  • We work directly with you to evaluate your insurance options.
  • We only work with the top business insurance carriers in the country.
  • Expert, licensed insurance agents to guide you through the process.