Now, get your social media accounts insured against hacking

Users of social media such as Facebook, LinkedIn and Twitter, may soon be able to get their accounts insured against the nuisance of hacking. A UK-based company, ALLOW has launched the country's first social media insurance. According to the ‘Daily Mail’ report, the information privacy company is offering services to specifically protect against reputational damage, account hacking and ID theft. Accounts hacking on social media sites are quite common these days, where another user hacks accounts and posts abusive or offensive messages, which lead to a serious damage to an individual or business. "Perhaps, insurance wouldn't have been needed a few years ago,” said Justin Basini, CEO of the company ALLOW. "That's all changed now. Every internet user faces a certain level of risk that one day a digital criminal will target them or that they will suffer damage to their reputation," Basini added. Premium for the cover is 3.99 pounds per month. The cover includes expenses for legal advice if case someone suffers an on-line attack and seeks some form of redress.

Furthermore, the cover also includes the cost of disabling accounts, suppressing offensive material and stopping any legal action triggered by hacking, for example if a hacker posts illegal material under a victim's name.