AllTwitter reports that Twitter insurance is coming by way of Canada. Mis-tweets or the ill-advised message — there are plenty of recent examples of both — will be covered though “the specifics on how and why this insurance would pay out are unclear,” the story says.
The story goes on to say that large companies could purchase policies as large as $10 million in the event of “data loss and liability.” But what about reputation erosion and merciless backlash? The best insurance is, of course, preventing these sorts of mishaps from happening in the first place. A good social media policy (something many companies are missing) could help. Here’s an example from Salesforce, published in September. Or you can try having a good PR plan in place to clean up the mess.