Are Your Firm’s E-Security Risks Adequately Insured?

May 10, 2010

It sometimes appears that the best security software can’t keep up with computer hackers; especially those from foreign countries. Daily we read about government and business websites hacked and confidential information stolen. Or, money transferred out of the country from businesses using online banking. If your firm conducts business over the internet, it is at risk. The best defense is twofold. First, maintain a robust software defense using the most up-to-date technology. Secondly, be certain that your business insurance policy has coverage for Funds Transfer Fraud. This provision covers losses resulting from a fraudulent instruction (electronic, cable, teletype, facsimile or telephone) by someone claiming to be you or your employee directing a financial institution to transfer, pay or deliver funds from your account. Funds transfer fraud coverage can be combined with other Crime Coverages to provide a comprehensive package of protection against financial losses resulting from criminal acts committed by outsiders and employees.
Why wait? Review your current policy or give a customer service representative at our agency a call to discuss and review. Let’s work together to keep your business properly insured for today’s contemporary internet threats.