No Laughing Matter - You May Want Malpractice Insurance

I have been reading probably way too much on the crap going on with websites, reviews, and marketing practices. One of them, Astroturfing was talked about if memory serves by Rus. He gave us a link to a ppt and part of that ppt said:

Astroturfing occurs when an organization or individual presents information or opinions on a subject without disclosing that they have been reimbursed for their statements in an intentional effort to give the appearance of an organic source.
Astroturfing is intended to give the statements the credibility of an independent entity, by withholding information about the source's financial connection.

The FTC has jurisdiction over Astroturfing as part of its charter to regulate "unfair or deceptive acts or practices in or effecting commerce

I posted a thread about yelp at:

http://www.warriorforum.com/offline-...ring-help.html

naming a major newsletter saying they didn't think too much of Yelp. Yelp hasn't helped itself with their current tactics still causing a stir in the hinterland.

If you live in the U.S. you now are forced to buy a health ins policy so don't say the gov't can't do that because they can. According to Justice Roberts all they have to do is call it a tax and bingo dingo you are now mandated to buy it.

I could go on w/the negatives but no need. I think you get the idea. Here is the short of what I am thinking. If you have heard of malpractice insurance you'll grasp my concept. If you haven't I predict you will in the next two years because of the FTC and their jurisdiction over something called Unfair and Deceptive Acts and Practices (UDAP).

BTW, they get to define UDAP and freeze all of your accounts while they investigate. How do I know? I had a friend accused and everything he had was immediately frozen. His bank accounts were confiscated too. They play hardball.

Since our partners just bought an insurance company and we are experienced in the world of commercial insurance I have put a preliminary proposal in front of the board to consider writing - I'll just call it Internet insurance. The idea underlying this insurance policy is the same as malpractice or Erros and Omissions insurance.

You see in this increasingly litigious world, some web designer, rep mgt specialist, SEO whiz bang, etc will find himself in court. I don't know if you've ever been in court but they don't go by the law. They go by procedure. I know that from real life experience.

I hope you win but if you don't, oops, you have to write a check. That's where the Internet insurance would enter the picture. BTW, who on this forum would be ripe for a suit?

I'd suggest wandering over to the WSO pages. Read some of those claims. If they were made by a securities licensed person, that person would lose his license and be barred from ever selling securities. I don't think that day is too far off in the Internet world. The FTC could UDAP quite a few of those babies in an instant.

If you doubt me, remember what they said about the social security number. It would NEVER be used as identification and they even printed that on the SS card. Those words ain't on the card today and try to get your electricity or phone turned on w/o giving it.

Anyway, that was a lot of wind just to ask for your opinions. As far as I know we would be the only company providing this kind of coverage so tell me what you think.

I don't even mind if you laugh out loud as I think I will have the last laugh. Also, if you bought such a policy, what dollar size premium would you expect to pay for what amount of coverage?

Mind you, I didn't talk about bonding aove but that is also on the table. OK, let me know what you think.

Thank you,

Tom