With perhaps the exception of ransomware, the largest source of cyber loss for insurance carriers is phishing scams, commonly known as business-email-compromises (BECs), whereby an insured is tricked into sending…
The exposure to loss of money, securities, or other property due to trick, scam, etc. has been around for millennia, but from an insurability standpoint, traditional “ISO standard” insurance products…
Agents and insureds often think employee dishonesty coverage on a BOP is the same as coverage provide by Commercial Crime policies or forms. Unfortunately, that’s not the case. This article…
Your computerized telephone system is hacked and the perpetrators ring up $500,000 in unauthorized toll charges. The claim is denied under the property policy, crime policy, and cyber policy. Is…
An insured stores activated gift cards worth several million dollars in a warehouse. The commercial property insurer says they’re not covered because they’re “evidences of debt” and the same as…
Your insured accepted an order via the internet for products that he sells. He verified that the credit card was valid through a service that he uses. It was not…
Employee theft coverage can easily be written under standard ISO crime forms or an employee fidelity bond. However, crime policies cover only theft of the insured’s property by employees. Another…
