Press Release Details

Results show importance of developing policies to address social media usage and communicating with employees to reduce risk

NEW YORK--(BUSINESS WIRE)-- A survey released today by Travelers reveals how the use of social media can expose businesses to risk. As the Travelers Global Technology business unit commemorates its 25-year anniversary, it conducted a national online survey of more than 2,000 adults to explore trends in social media and the potential risks to businesses.

A key finding in the survey shows that one out of eight respondents indicated that they post work-related information on social media Web sites. In fact, 30 percent feel it is acceptable to post information online about their employer as long as they believe it is true. Survey results also showed that more than 75 percent of those who post anything personal online said they were "not at all" or "not very concerned" about information posted online causing professional damage.

"As the use of social media grows at an unprecedented rate, especially among 30 to 49-year-olds, the likelihood of businesses being affected by employee social media use also increases," said Kathy Swendsen, President of Travelers Global Technology. "An employee could inadvertently post confidential information that could cause irreparable harm to a business. In addition, the speed and ease of publication to a wide audience makes it virtually impossible to remove the information once it is posted."

The growth of social media and the lack of awareness among employees and employers on how social media is changing the corporate landscape could increase a company's risk exposure. "Travelers conducted this survey as part of our continuing commitment to help our customers and agents understand the ever-changing risks that innovation creates. The Travelers survey results should encourage businesses to understand the extent of coverage that is already in place to address social media risks and exposures, and determine where gaps may exist," Swendsen said. "Employees' increased use of social media may amplify a businesses' exposure to potential liabilities such as harassment, defamation, copyright infringement and privacy violations."

The Travelers survey results also indicate that two-thirds of respondents say their company does not have a policy in place for social media usage, or they are not aware that one exists. "By implementing policies to address social media usage and making employees aware of those policies, businesses can reduce their exposures to legal liabilities, breaches of proprietary information and damage to a company's brand and reputation," Swendsen added.

In order to help reduce potential risks, businesses should consider the following best practices:

    --  Develop a business-use policy - Develop a policy to govern employee
        actions on social media tools that a company might deploy within the
        company's network, as well as provide guidelines for how employees
        should conduct themselves on external social media sites whether or not
        they are representing their affiliation to the company.
    --  Communicate and train employees - Communicating the social media policy
        to employees will help them understand what is acceptable when it comes
        to publishing online. Businesses should provide annual training
        regarding the proper use of social media tools as well as e-mail,
        instant messaging, blogging and Internet usage.
    --  Enforce the policy - A proactive and reactive plan should be in place to
        address employees who violate the policy.

Survey results are available at www.travelers.com/business/technology

NOTE: The Travelers social media survey was independently managed by a national independent research firm among 2,060 adults (aged 18 and over) across the United States. Travelers was not revealed as the sponsor to respondents.

About Travelers

The Travelers Companies, Inc. is a leading property casualty insurer selling primarily through independent agents and brokers. Travelers understands that life and business are inherently dynamic and that the best way to serve customers is to deliver insurance in-synch with evolving risks. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A Fortune 100 company, Travelers has 33,000 employees and 2008 revenues of approximately $24 billion. Travelers stock is traded on the New York Stock Exchange (NYSE: TRV) and is a component of the Dow Jones Industrial Average. For more information on being in-synch, visit www.travelers.com.

    Source: The Travelers Companies, Inc.