The recent computer crisis with CrowdStrike was a reminder on how dependent we are on our IT systems. Now is a good time to review with your IT people your system’s security measures. For most companies, that should also include some type of Cyber Liability insurance. See the attached sheet for some information on why your business may need a cyber liability policy.

In addition to cyber liability, your policy should also include some of these coverages.

 

Social Engineering
Deceptive emails that appear to come from within your organization instructing your employee to send money. The emails are sent to appear to come from an owner or person in charge of funds.

Computer Fraud
Fraudulent access to your computer system with the intent to transfer funds from your bank account to another person.

Funds Transfer Fraud
Electronic, phone or fax instruction directing your bank to send funds to another person.

Ransomware
Hackers put a virus in your computer system to block your access until money is paid.

Fraudulent Instruction
Fake invoices that appear to come from a known vendor of your company.

Contact us today for more information and to get a quote for your company!