The Use of Social Media by Insurers and Potential Legal and Regulatory Concerns

Journal of Insurance Regulation, Forthcoming

21 Pages Posted: 4 Oct 2012 Last revised: 26 Feb 2014

See all articles by Cassandra R. Cole

Cassandra R. Cole

Florida State University - College of Business

Kathleen A. McCullough

Florida State University - College of Business

Date Written: May 14, 2012

Abstract

There has been a significant increase in the use of social media and the volume of personal information provided on social networking websites. As such, social media has the potential for a variety of uses by businesses, including insurers. As the use becomes more widespread, insurers must navigate the rapidly evolving legal and regulatory landscape as well as understand the constantly changing outlets and tools available. Recently, the National Association of Insurance Commissioners (NAIC) adopted a document which provides the first official guidance on the use of social media for insurance companies. At the same time, a number of studies, reports, and commentary related to insurers’ use of social media have emerged. This study examines the use of social media by insurers and discusses potential legal and regulatory concerns.

Keywords: social media, insurance regulation

JEL Classification: G22, G18

Suggested Citation

Cole, Cassandra R. and McCullough, Kathleen A., The Use of Social Media by Insurers and Potential Legal and Regulatory Concerns (May 14, 2012). Journal of Insurance Regulation, Forthcoming, Available at SSRN: https://ssrn.com/abstract=2156585 or http://dx.doi.org/10.2139/ssrn.2156585

Cassandra R. Cole

Florida State University - College of Business ( email )

423 Rovetta Business Building
Tallahassee, FL 32306-1110
United States

Kathleen A. McCullough (Contact Author)

Florida State University - College of Business ( email )

Department of Risk Management and Insurance
150 Rovetta Business Building
Tallahassee, FL 32306-1110
United States
850-644-8358 (Phone)
850-644-4077 (Fax)

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