The NAIC’s Social Media Working Group is drafting a white paper calling for state insurance regulators to ask insurers to adopt policies and controls regarding use of social media by associated entities and their own employees.
An insurer could be held accountable for social media content posted on the sites of affiliated companies as well as on sites sponsored by the company. An insurer might have to prohibit associated entities from engaging in business related communications that use social media venues that are not supervised by the insurer.
The Financial Industry Regulatory Authority (FINRA), developed Notice to Members 10-06, establishing rules member firms are to use when overseeing employees’ and others’ use of blogs and social networking sites.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
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