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Thursday, 20 September 2012

"ALLOW" Social Media Identity Protection Insurance

A privacy firm called "ALLOW" in the United Kingdom in association with Legal Insurance Management-UK came up with a solution - insurance protection.

According to the recent findings by Charted Insurance Institute in the UK, " Young Internet users are more concerned about their identity and control of their identity over the commercial use of their information and content".

From a reported study, it's been identified 56% of young Internet users interested in protecting their personal information online through insurance cover, 26% would consider social media insurance to safeguard their reputation online.

ALLOW's new insurance consumer product pays for the legal advice an support in the event of claim upto £10,000 in professional fees and ancillary cost for any one incident in respect of identity theft or account jacking is offered or £3,500 in respect of any reputational damage.

This social media insurance comes at a cost of £3.99 per month.

Will you consider this product ??
Is it for common citizen ??

Who will benefit from this product ??
How they will measure the value of any persons identity ??

Still more questions to be answered, if the process becomes clear - it may become the next big thing in consumer insurance sector.

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