Most policyholders are aware of the danger of losses from fraudulent instructions and invoices accomplished through what is known as “social engineering” or related methods. Often this is carried out by an email claiming to be from a vendor or company executive that provides instructions for payment to a fraudulent account. In some cases, the
This is a deceptively simple question — risk managers rightfully expect to know the scope of their coverages when they build their insurance programs. Unfortunately, judicial interpretation of common policy terms can turn what should be a straightforward question into a morass of uncertainty.
This uncertainty is exemplified
Some policyholders mistakenly assume that all cyber insurance policies provide coverage for much the same type of losses. But unlike many other types of commercial insurance, cyber has not become standardized in the years since its inception. Instead, the cyber insurance market offers policyholders a menu of coverage options, from which the organization must purchase