Protecting Insurers From Social Media Risks

Law360, New York (April 2, 2012, 12:31 PM EDT) -- On March 5, 2012, the National Association of Insurance Commissioners' Market Regulation and Consumer Affairs Committee adopted its white paper on social media. The next day, the NAIC Executive Committee accepted the recommendations. With heightened regulatory focus on social media, it is especially important that insurers consider whether they are fully compliant with all rules.

Social media sites are essentially interactive marketing and networking forums where consumers can post their own content. Many companies, including insurance companies, try to leverage social media to generate user loyalty...
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