Often not under the agreements businesses assume cover it. Computer fraud generally requires an unauthorised entry into your system, and funds transfer fraud generally requires a transfer instruction your bank acted on without your knowledge. A convincing email that persuades your own employee to authorize a payment fits neither, because the transfer was authorized. That gap is filled by a social engineering or fraudulent instruction agreement, usually with a sublimit well below the policy limit and a callback verification condition attached. Ask which of the three you hold.
Related FAQs
Often yes, because smaller teams may have fewer checks on who handles money.
Not always. It often requires a specific insuring agreement, which we can help you review.
There is overlap, but crime and cyber address different things. Many businesses carry both. We can explain how they may work together.
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