Cyberbullying insurance: Yes you can

There’s no doubt about it, cyber bullying is a real problem. More and more often we read stories of some poor kid who took drastic action to stop his or her peers from attacking him or her online. Kids have always been mean, but, in these days of pervasive 24-7 media, there really is no escape from the barrage of hurtful and threatening messages.

So, yes, it’s a problem. But cyber bullying insurance? Really? Could there really be such a thing? Well, now there is. Global insurance giant Chubb recently announced a new line of “cyberbullying insurance” for well-off customers in Britain and Ireland.

According to a company release, Chubb will shell out up to $74,600 to help customers and their families recover from “online trolls.” That “recovery” could include hiring PR pros to help clients repair their reputations online, and hiring cyber-security contractors to build a strong legal case against perpetrators if necessary. Of course, if a client has to miss school or work because of the bullying, the plan benefits will recompense those losses as well. There’s even an optional temporary relocation rider if a client has to move due to excessive trolling.

There’s one catch: customers can’t buy this insurance as a one-off. It only comes as an add-on to the most high-end property insurance products offered by the company, plans costing upwards of $3,730 per year.

The kicker here, of course, is the same as it is with any insurance product. The insured has to prove a loss. That’s easy with a car, for example. Car’s busted, here’s what it costs to fix it. Same with a covered hazard relating to a home loss. But bullying? How bad, exactly, does it have to get before mom and dad can skip work to stay home with junior and bill the company?

According to company spokesmen, a client can seek redress or compensation after three specific acts of cyber bullying result in financial losses. No word yet on what, exactly, constitutes justifiable loss.