Due to the nature of phishing attacks, it is not something a business insurance policy typically covers. In fact, most contain a ‘false pretense’ exclusion, meaning you will not receive coverage when covered property has been voluntarily parted with through any fraudulent scheme, trick, or device. This makes it increasingly important for you to stay vigilant when handling your sensitive information online.
Learn more safety and security tips at jewelersmutual.ca or by contacting your local authorized agent. Next time, we’ll look at how much a data breach could cost your business.
Additional resources
- http://us.norton.com/spear-phishing-scam-not-sport/article
- Report phishing at www.antifraudcentre-centreantifraude.ca/index-eng.htm
- Examples of phishing https://securelist.com/
analysis/quarterly-spam-reports/69932/spam-and-phishing-in-the-first-quarter-
of-2015
David J. Sexton, CPCU, is vice-president of loss prevention consulting at Jewelers Mutual Insurance Co., in the United States. A graduate of the University of Wisconsin, Sexton serves on the Underwriters’ Laboratories’ (UL) Security Systems Council, where he is a corporate member of the insurance category. He also sits on the board of directors for Jewellers Vigilance Canada (JVC), and worked on the Central Station Alarm Association’s (CSAA’s) Insurance Liaison Committee that assisted in the development of the UL burglar alarm modular certificate program and revised UL standard. Comments and questions can be sent to lossprevention@jminsure.com.
