In Great Britain, they called it “The News and Screws.” Now that the media outlet truly is screwed, they're calling it toast.
In case you haven't been following the ongoing scandal at the Rupert Murdoch-owned News of the World tabloid, here's a quick recap—and yes, there is an insurance angle, because this is a tale of corporate accountability, cyber risk and a total disregard of risk management basics.
It all began when word leaked out about reporters at the 168-year-old tabloid trolling for stories by hacking into the private cell phones of celebrities, political figures, dead soldiers, terrorist victims–and a missing 13-year-old girl who turned out to have been murdered. That last little indiscretion pushed the incident way beyond a breach of journalistic ethics and cyber privacy violations into the realm of destroying evidence and tampering in an ongoing criminal investigation.
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