Funds Transfer Fraud Insurance
Although you purchase Errors & Omissions coverage for your title insurance agency you may still be exposed to a large loss as a result of fraudulent wire transfers. Most Errors & Omissions policies exclude any claims related to fraudulent instruction and social engineering; the few who do cover this exposure sublimit the coverage at a much lower limit than your full policy coverage limit. While it is not generally possible to obtain richer coverage through your E&O carrier there is hope of obtaining more robust coverage through a cyber crime policy. We have access to several markets willing to offer terms for this type of coverage. All it takes is the completion of a short application in order to have quotes presented for your review.
