Troll insurance, cyberbullying, and millennials

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28 March 2016
Colleen Risk
As I read through my myriad of promotional mail, I came across an interesting insurance offering – troll insurance. Chubb, a multinational insurance company, is offering its clients in the UK the first ever troll insurance. Chubb personal insurance policy holders will be able to claim up to £50,000 (approximately US$75,000) towards expenses that include professional counseling, relocation due to online abuse, or time spent off work due to cyberbulling. Cyberbullying is defined by the insurer as three or more acts by the same person or group to harass, threaten or intimidate a customer. The inclusion of cyberbullying into Chubb's policies is a result of a survey of the target audience and brokers. Although the new policy is primarily tailored towards worried parents, adults who become victims of online abuse will also be covered. The policy money can be used to pay a reputation management team that would restore the person's public image, or even to hire a forensic specialist to trace the origins of the trolling. However, the coverage is pricey. It can only be purchased as part of Chubb’s top-of-the-line home insurance package which costs at least £2,500 ($3,730) per year and is targeted at high-net-worth individuals. While I find it unfortunate that this type of insurance is required, I applaud Chubb for creating an innovative product to cover a gap in the current insurance offerings. Online harassment has real consequences, but the law against it tends to be hit or miss. Ironically, a few American insurers have policies pertaining to cyberbullying, but they protect people who are accused of the offense rather than the victims or harassment. Insurers continue to look for ways to be relevant to the Gen-Xers and Millennials in the marketplace. Chubb’s troll insurance provides a coverage that is relatable to these tech savvy demographics. It’s time for this insurance in North America as well.

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