Tuesday, September 18, 2012

Facebook account hacked?? Get insured!

So finally, there is something to protect you against online threats, (Facebook) account hacks, identity thefts, etc. and also helping you to get out of marketing databases and lots more.

Allow, a private limited company registered in England & Wales under the name of ALLOW Limited is now offering plans (monthly and annually) to help you protect your identity by showing you information such as where all your personal details are being abused by marketing companies, or the risk related to internet browsing and even the Facebook Risks.

ALLOW gives you, what it calls, "an accurate picture" of where your information 'is' (not 'may be') at risk, so probably it knows exactly where your information is at risk.

One of its services called "RemoveMe" helps its users opt their details out of marketing databases and it just doesn't stop there, it even removes the files on the user's computer left by the companies trying to track users. This might sound scary, but its true that with the help of cookies (small files), companies track your internet browsing to judge your likes and dislikes as well as for marketing purposes.

it doesn't stop there, you can also access your email account through ALLOW's privacy tools which helps you protect your real email address for purposes such as companies tracking your online behaviour, marketing organisations selling your data to make money out of it and so on.

Most explicitly, ALLOW seems to have a special tie up with Facebook (tie up not in the sense of a legal agreement with Facebook), they give special Facebook account protection. ALLOW safeguards Facebook accounts and most sensitive personal details by alerting users when they detect a threat.

This social media insurance industry may be the next boom in the world of web technologies, however, its important to understand that they are not affiliated to any legal insurances company or to any trade association like The Association of British Insurers (ABI) or something similar to that.
So this does mean that your information is in the hands of another privately owned organisation and you are trusting with your Facebook account / email account / other personal identity information on a unfamiliar / unknown person who may as well stop running this company in the near future if the business model turns upside down or they are unable to make enough money out of it to make it a financially viable business.

The company said the insured amount is £10,000 in professional fees and supplementary costs for any one incident in respect of identity theft or account jacking, or £3,500 in respect of any reputational damage sustained.

ALLOW claims that "most identity theft insurances (which don't cover you for account hacking or reputation damage) cost at least £7.99 and reputation management services can cost at least £5 per month. The opting out service we provide also costs us £30 a year to administer. Altogether that's over £200 and so we believe ALLOW is great value at £3.99 (and plus you can try it for free!)"

The best part of this service, for those who are sceptical, like me, is that you can try it for free for 30 days and then pay if you feel like its worth your money!

So are you going to try it? Let us know in comments