 Hey guys, it's MJ the Student's Actory and today I was going through the news when I came across this article that I thought you might find interesting. It says you can now get insurance for your offensive Facebook and Twitter ends in South Africa and for those of you who've been on my channel for a while, you know that back in 2015 we made that anonymous social media app and it caused a little bit of trouble. So I'm quite interested in social media and insurance. Especially insurance that covers the legal costs because we were sent some nasty legal letters. Fortunately that case was dropped and nothing really came of it. But let's focus in on this product which gives you, it's a liability product which they're calling SlipUp Social Liability Insurance Policy. So really, really cute name. I like that. What I don't like is that there's basically a million exclusions or they've excluded all the things that people normally find offensive. So anything on race, culture or religion is excluded. Which kind of like defeats the purpose of this product. It's like guys, we're going to sell you life insurance but if you die from the three main causes of death, that's excluded. I don't think anyone would ever buy that life insurance product. So it's strange that they've created a product and the three main risks they have left out. But we'll let that slide and we'll see what else this has got. They make cover up to $500,000, just less than $50,000. I don't know if that's enough to cover a full on legal case. I mean lawyers can get quite pricey. I mean they charge almost as much as us at trees. So I don't know if that's enough. 120 rent a year, that is quite low. And that's taking in their whole admin and expense costs and stuff. That means that the risk, like the actual risk premium of that I'm actually expecting to be very, very small. But let's actually go into their website. So in the article they talk about the SHA specialist. I think this would be, let's see, what would this be? Let's check our products. Maybe they've got the products written here. And let me actually just lower this a bit here. So this is their website. I've never heard of this company before. They do cyber. That's pretty cool. Social media liability. Let's see what they're talking about on this. So it's been out since October. It's been out since October last year, man. You're like reporting on it now. So yeah, let's see what, yeah, these are the exclusions. Acts of defamation or invasion of privacy. What's it called? I mean, your defamation, that's... What is this thing basically covering you then for? If it's excluding the whole racial, cultural and religious ones. And now it's also excluding defamation. What does this thing actually cover you then? What? Does this cover you in case somebody offends you and you can get... Yeah, let's see what they say. There are numerous examples where people have found themselves in hot water in social media communities for saying something they believe to be innocent, which was taken up in the wrong way. Most social media users make statements that are not meant to cause any harm, but they can lead to complete public outrage, which can have devastating consequences for the individual. In light of this, we've launched a liability product through its broker that can purchase to cover legal fees and damages associated with defending themselves against allegations of privacy invasion or defamation of a third party via social media. Wait, wait, wait. For defending themselves against allegations of privacy invasions or defamation of a third party via social media. Okay? Exclusions. Any acts of defamation or defamation of privacy... Oh, with religious cultural racism. Yeah, we read about that. Defamation is related to your employment or profession. Any acts of defamation, getting rights to acts that could roast a prior of this. Defamation, any of your direct family. Oh, that's... Most of them are about ex-spouses and they've excluded that one. So what is this? Is this if you insult some random person on the internet because you can't insult your boss. You can't insult any of the major ones. You can't insult your family, specifically your ex-spouse. And what does this thing do? Situations where a claim is fraudulent or false. I don't... Hold on, do they actually say what this could... This product is aimed at individuals and that the social media insurance... What? This product is aimed at individuals and that the social media insurance, that doesn't sound right, can only be purchased directly from brokers selling this. I don't know. I don't see what does this policy cover. Maybe... I don't know, maybe I'm going to get... Because this... I don't... I really don't see what this thing would do. Oh, let's see if we play the video. Maybe the video will let us know. Your first of its kind and... Well, it is loud. I don't think you guys are hearing this. Be careful what you post, not everyone is a friend. The road to ruin is paved with thoughtless tweets. Don't be the star of your own horror film. Oh gosh, I'm on YouTube. Do you know what your kids are sharing? Gosh, this video is intense. And you guys, I don't think I'm getting the audio, but there's some heavy, heavy bass on it. Okay, so the ad's pretty cool. The ad is very, very cool. But what does it do? What does it do? Because if you say something... So what normally happens on Facebook is people get divorced and then they go and they trash talk their spouse. They're like, oh, you know, Jimmy's a this, Jimmy's a that. Jimmy used to beat me or something like that. And then Jimmy gets all upset. He's like, that's not true. And then, you know, he sues for defamation. That's one of the biggest cases. But this is the case of the exclusions. I really, I really don't know who any third party that is not in this exclusion. I really don't know. Yeah, there's a fact sheet. Let's see what the fact sheet says. Let me... Because I really, I don't see what this does. I really don't see what the point of this product is. Yeah, are you on Facebook? Do you understand the legal? Yes, so it's about defamation, but it excludes all of the big ones. So I really don't get this product. I really don't understand why anyone would want to buy it. And that's probably why it's so cheap. It's so cheap because it, yeah. I don't know. Maybe you guys have got a better insight on this one. But I really don't understand this product because of all the exclusions. The exclusions, I mean, reading those other ones as well, it's like saying, like I say, it's like buying life insurance where the top three cases, the top main reasons of dying, those are excluded. And then reading those other things, it looks like the other top seven, or the other seven in the top 10 are also excluded. So I really don't get the point of this product. Anyway, let me know your thoughts. I think it could be an interesting product if they just designed it a bit better with the exclusions, especially around the ex-spouse stuff like that. I don't know. Hopefully one of them watch this YouTube video and can give us a message in the comment section explaining what exactly this covers or a user case that would do this because I really, really like to know how this product or what the vision is for it because the exclusions are killing the product. And that's a little bit, I'm a little bit worried about insurance in the sense that a lot of people buy insurance. They think they're covered. They don't really read the exclusions because insurance policy documents, they're so long. They buy this insurance. They sign it. They think they're covered. A court case comes up. They think they covered and then they go and claim and they get smacked with the exclusions. So I'm going to say this is not a good product. I don't know. I don't know. What are your guys' opinions? Please let me know. Anyway, thanks so much for watching and I'll let you know if I come across anything else that's interesting in the actuarial world and I'll make a video for it. Cheers, guys.