Japan insurance markets in everything, moral hazard edition

by on November 21, 2016 at 12:59 pm in Economics, Web/Tech | Permalink

One of Japan’s largest casualty insurers is going to start offering internet and social media backlash insurance.

Here is the link, including to the original Japanese.

1 Pshrnk November 21, 2016 at 1:14 pm

Does it cover for damage from our own intemperate tweets?

2 Anon November 21, 2016 at 1:34 pm

It probably catches 22 hrs a day ; as long as the tweets are not from 2 to 4 AM you have coverage.

3 Brett November 21, 2016 at 1:33 pm

It’s a good idea, and I wish they had it here.

4 rayward November 21, 2016 at 1:57 pm

Social media vigilantes are for real, anyone tied to a “community” (such as a university) will confirm that. If a professor’s reputation is ruined by social media vigilantism, will the insurer indemnify him against losses?

5 Silas Barta November 21, 2016 at 2:20 pm

Do they require that one of their own agents approve the tweets, ensuring that the posts are things that a reasonable person wouldn’t foresee a backlash on?

6 Pshrnk November 21, 2016 at 2:31 pm

I doubt a reasonable person can always foresee what will provoke a backlash. I think there is some sort of social quantum indeterminacy effect.

7 Silas Barta November 21, 2016 at 4:00 pm

Right, but you can identify ones that will (almost) *definitely* provoke a backlash and make sure you’re not insuring those, hence my comment.

8 Chappy November 21, 2016 at 3:21 pm

This makes no sense. What’s the insurable event? A tweetstorm? What are the damages? I suppose I can see some analogs to liable insurance for a news outlet, but in that case someone has to sue. This doesn’t seem real.

9 Alan November 21, 2016 at 10:11 pm

Now, where do I go to get my reputation back?

10 Bill November 21, 2016 at 3:37 pm

This website should buy some of that insurance.

Comments on this entry are closed.

Previous post:

Next post: