Cyberbullying Insurance Now Available in the U.S.

By Floyd Arthur

The Chubb group of insurance companies announced this week that it would begin offering cyberbullying insurance on its Masterpiece Family Protection policies in the United States.  Formerly available only to clients in the United Kingdom and Republic of Ireland, the coverage provides up to $60,000 to help families deal with expenses related to cyberbullying incidents.

The Family Protection policy is currently available in Colorado, Illinois, Indiana and Wisconsin, and costs about $70 per year. The company plans to make the policy available throughout the United States later in 2016.

Chubb’s Masterpiece Family Protection plan includes protections for incidents such as hijacking, child abduction, home invasion and stalking, and is available as part of the company’s  top-of-the-line homeowner’s insurance plan. Designed for high net worth families, Chubb’s Masterpiece homeowner’s policy costs about $3,700 per year.

What Is Cyberbullying?

Cyberbullying is aggressive, threatening or abusive behavior that takes place online. Examples of cyberbullying include:

• Threatening text messages or emails,
• Rumors spread through electronic technology or social media
• Embarrassing pictures and videos sent via text message or posted online
• Fake social media profiles

Children and adolescents are the most cyberbullied of all age groups. According to the U.S. Department of Health and Human Services’ Bureau of Justice Statistics and Cyberbullying Research Center, 52 percent of students reported being cyberbullied in 2011, and those numbers are likely higher today. The American Academy of Pediatrics calls cyberbullying “ the most common online risk for all teens.”

And kids aren’t the only ones who are subject to bullying online. According to a 2014 report from the Pew Research Center, 40 percent of adult Internet users report some form of online harassment. That number is as high as 70 percent for users aged 18 to 24.

What Does Cyberbullying Insurance Cover?

According to Christie Alberman, vice president of client and product service for Chubb’s personal risk services, cyberbullying can “damage the reputation of a homeowner or their child and cause financial loss and emotional harm.” Depending on the circumstances, cyberbullying protection may cover:

• Wrongful termination or wrongful discipline at school
• False arrest
• Mental anguish that prevents a child or family member from attending work or school for more than a week
• Psychiatric services
• Rest and recuperation expenses
• Temporary relocation costs
• Education expenses
• Public relations services
• Cybersecurity consultants

At Carmoon Group, we are committed to providing the best protections for your home and your family at the most affordable price. So why not contact us today to set up an appointment to discuss your insurance needs? We are available Monday through Friday from 9 a.m. to 6 p.m.at 516-292-3780. Or if it’s easier for you, just fill out our online form and we’ll get back to you within one business day.