Several Japanese insurance providers have introduced a product to cover the cost of managing a company's reputation following the release of negative viral content. Whether originating from inside the company or externally, Sompo Japan Nipponkoa Insurance pays out up to JPY10m ($900,000) to compensate for the damage. The firm has also launched an online service that allows customers to report posts on social media as well as receive compensation if they are found guilty by their peers. The quantity of online content which generated negative responses for companies has increased from 102 viral incidents in 2010 to 1,002 in 2015, according to big data analysis firm Eltes.
Several Japanese insurance providers have introduced a product to cover the cost of managing a company's reputation following the release of negative viral content. Whether originating from inside the company or externally, Sompo Japan Nipponkoa Insurance pays out up to JPY10m ($900,000) to compensate for the damage. Insurance premiums for the plan range from JPY500,000 to JPY1m a year. The quantity of online content which generated negative responses for companies has increased from 102 viral incidents in 2010 to 1,002 in 2015, according to big data analysis firm Eltes.