Biba issues social media guidance for insurance brokers
19 October 2010 | 1433 views | 0
Source: The British Insurance Brokers' Association
The British Insurance Brokers' Association (BIBA) has produced a collection of legal guidance to help brokers understand and manage the potential risks surrounding the use of social media.
BIBA appointed law firm Beachcroft LLP to produce the documents for brokers following increased interest from members about social media. The legal documents include a guidance note on managing social media, a template social media policy and a template disclaimer for use on Linked In groups.
BIBA Communications Manager, Leighann Burtrand, said: "Many members have been talking to us about their plans to increase their use of social media. We have therefore highlighted the important issues and many risks that social media can present to members. These include copyright issues, the speed of communication, defamation and reputation. We hope that members find the legal documents helpful in identifying and managing these risks."
Emma Bate, Partner at Beachcroft, said: "BIBA Members need to be aware of the legal and commercial risks of using these sites, as do their employees. The speed and simplicity of social media means it is all too easy for staff to post something inappropriate or unlawful. In particular, as brokers are FSA regulated, they must take reasonable steps ensure that all communications, including tweets or posts on social media websites, are "clear fair and not misleading" and, if they are a financial promotion, should be signed off in the usual way".