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Fake CEO Email Lures $480k Transfer, Cyber Insurance Policy Denies Coverage of Loss

February 18, 2016 / in Blog / by Zafar Khan, RPost CEO

Businesses cannot rely solely on cyber insurance policies to protect themselves and their clients from certain cybercrimes. In a recent case, Chubb Insurance refused to cover a cyber security loss of $480,000 despite the fact that Chubb had insured the victimized company for computer funds transfer fraud.