A Policyholder's Guide To Commercial Crime Coverage
By Jeff Sistrunk (April 4, 2016, 11:05 PM EDT) -- In today's ever-shifting digital landscape, companies are being targeted by increasingly sophisticated fraudulent schemes, such as a "phishing" scam that cost tech company Medidata Solutions $4.8 million, raising questions about whether commercial crime insurance policies can keep up.
Here, experts discuss key provisions of commercial crime policies and how policyholders can ensure they are tailored for maximum coverage.
Technology has made it possible for fraudsters to convincingly pose as a company's executives, vendors or customers, making it easier for them to induce unsuspecting workers into transferring money through so-called phishing email scams.
Some insurance carriers have recently interpreted the...
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