News
Cowbell Adds Social Engineering Coverage to Its Cyber Insurance Program
avril 2020 par Emmanuelle Lamandé
Cowbell Cyber announced the addition of social engineering coverage to its Cowbell Prime 100 cyber insurance product. With cyberattacks on the rise, the update mitigates financial losses from phishing or fraudulent emails that prey on employees’ naivety, thus leading to funds being transferred to a malicious third party.
Cybercrime exploits fear and uncertainty, particularly during times of crisis, warns the World Economic Forum. People are more likely to engage in unsafe online behavior which can end up costing them dearly. An alarming 98 percent of cyberattacks deploy social engineering methods, revealing how cyber criminals excel at exploiting human weakness.
Social engineering coverage can be added as an endorsement to existing or new policies with a limit up to $250,000 and deductible as low as $10,000. This endorsement complements the Computer and Funds Transfer Fraud coverage which is available with a limit up to $5 million.
As of April 2020, Cowbell Cyber is also opening its platform to all non-policyholders at no cost, giving them direct access to Cowbell Factors and immediate insights into their security risk ratings along with peer and industry benchmarks.
