Cyber & Crime Policies: Protecting Against Social Engineering Fraud

Placing You First Insurance Podcast by CRC Group

Learn more about safeguarding your business against one of the most insidious threats today—social engineering fraud. Join us as we sit down with specialists, Lori Wheeler and Jackie Leslie from CRC's ExecPro Practice Group, who share their invaluable insights into the growing prevalence and sophistication of these cyber threats. Gain a thorough understanding of how these scams have surpassed even ransomware in frequency and the severe financial toll they can take on businesses, especially smaller ones. Discover the critical steps your organization can take to secure adequate insurance coverage and protect against potentially crippling losses. Lori and Jackie also shed light on how AI technology is being weaponized to mimic voices and orchestrate fraudulent transactions. From accounting departments under pressure to real estate transactions, explore the urgent need for heightened awareness and robust safeguards in our increasingly connected world.

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1. Cyber & Crime Policies: Protecting Against Social Engineering Fraud (00:00:00)

2. What is social engineering fraud and why is it becoming more prevalent? (00:01:34)

3. Does A.I. play a role in the increase? (00:06:11)

4. Both Cyber and Crime policies provide coverage, but cyber policies are often sub-limited. Talk us through sublimits…where do they need to be and what do businesses need to understand about how they work? (00:07:16)

5. Can you share an example of a social engineering attack and how the right—or wrong—insurance played a role? (00:12:40)

6. How does working with CRC benefit agents and their clients? (00:21:20)

7. Rapid Fire! (00:24:59)