What Insurance Covers Phishing Losses?
Cyber coverage may pay response costs after phishing, while crime coverage may address money stolen through a covered transfer or social-engineering grant.
A phishing message can lead to different losses: stolen credentials, system access, exposed data, an outage, or a payment sent to a criminal. FTC guidance describes possible cyber response costs; crime coverage may be needed for a fraudulent transfer, especially if an employee was deceived into authorizing it.
Ask which policy section covers each scenario and how it treats authorized payments, security controls, and vendor incidents. Keep the message and transfer records, and report suspected fraud promptly to your bank and insurer.
