Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Phone and Internet availability, while vastly increasing the speed of communication in the business world, is not without its own particular risk. FC&S® frequently receives questions about coverage for financial loss arising from these modes of communication, such as the following:

My insured has two T-1 lines for phone and Internet communications. His normal phone bill for these are about $8,000 to $10,000 per month. The system was hacked into by unknown parties, and a monthly bill in excess of $100,000 was generated during that month.  Where would coverage fall for a claim of this nature?

Absent a special type of coverage for this type of loss, I doubt that coverage can be found for this loss on either the typical crime or commercial property policies.

The standard ISO Commercial Crime Coverage form provides coverage for employee theft, forgery or alteration, theft of money and securities from inside the premises, robbery or safe burglary of other property inside the premises, loss of money, securities, or other property (italicized terms are defined in the form) outside the premises, computer and funds transfer fraud, and money orders and counterfeit money. 

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Dig Deeper



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.