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Now's the time for insurance professionals and insureds to reexamine cybersecurity strategies and coverage.

Analysis

'You've been hacked...'

Email fraud is driving cyber claims. Here’s how to help insureds prevent loss.

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Pulling back the curtain on fraud. As hackers become more creative, businesses must learn how to protect themselves, their employees and clients against these bad actors. (Photo: Shutterstock)

Online theft, fraud and exploitation were responsible for $2.7 billion in financial losses in 2018, according to the FBI’s 2018 Internet Crime Complaint Center’s (IC3) 2018 Internet Crime Report.

The most costly complaints involved business email compromise, a tool used by bad actors to facilitate many types of cybercrime, from misdirected payment and inventory fraud to cyber extortion.

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