Part 1
The risks of Employees:
Last week Facebook hit half a billion active users. Many in the insurance and reinsurance world would say “so what”, but in the most basic business, let alone complex risk management, Facebook’s risks and rewards have to be understood.
If you don’t know the risks with employees – here they are: basically your staff can go on and do oodles of reputational damage if you: a) hire substandard people who don’t know the boundaries; and b) don’t tell them they can’t. From criticising competitors to revealing trade secrets, Facebook is number 1 when it comes to giving managers the jitters. (more…)
Our industry deals with risk every minute of every day. So it is a little surprising to find out how little thought has gone into the risk/reward equation for insurers and reinsurers and the use of social media.