The word from At-Bay who have new products aimed at fighting email fraud attacks;
At-Bay, the InsurSec provider for the digital age, today announced the launch of two new InsurSec solutions that unlock significantly higher Financial Fraud coverage sub-limits for businesses with revenue up to $5B. At-Bay Stance Fraud Defense, a new proprietary email security solution, is uniquely designed to identify and stop email-based fraud attacks, which most of today’s email security solutions do not detect.
Available with every Cyber and Tech E&O policy placed by At-Bay, eligible businesses who adopt the solution can unlock up to $500K in financial fraud sub-limits. At-Bay Stance Managed Detection and Response (MDR) for
Email goes even further, offering an advanced email security solution that combines Stance Fraud Defense with an AI-powered cloud security solution that is fully managed and monitored 24/7 by At-Bay’s managed security team. Customers with policies placed by At-Bay who adopt Stance MDR for Email could increase their financial fraud coverage sub-limits up to $1M.
“This is a major innovation in cyber insurance,” said Ken Riegler, President of At-Bay Insurance. “Financial fraud continues to be the biggest driver of losses among mid-market and small businesses, and 9 of 10 of these incidents happen via email2. In the most severe cases, over $5M in funds have been stolen. Recognizing that current industry sub-limits are leaving businesses without crucial protection, we developed two new InsurSec solutions that help to combat financial fraud and unlock better coverage.”
Key Product Highlights
At-Bay Stance Fraud Defense
– Proprietary email security solution trained on real-world claims data to detect and prevent financial fraud threats in real-time that traditional email security solutions do not detect.
– Available with every Cyber and Tech E&O policy placed by At-Bay, at no additional cost.
– Seamless activation in minutes via At-Bay Stance, the unified security platform that manages cyber risk across all major security domains.
– With the addition of Fraud Defense, At-Bay Stance now mitigates cyber risks associated with 86%3 of customer claims.
– Can unlock up to $500K in financial fraud coverage sub-limits for eligible policyholders, double what is typically offered by the insurance industry.
At-Bay Stance MDR for Email
– Combines an AI-powered modern cloud email security solution, with At-Bay’s Fraud Defense technology and expert security operations team, to monitor and respond to new threats in a customer’s email environment 24/7.
– At-Bay MDR for Email is more powerful than a traditional email security solution, helping to reduce 98% of email-based attack risk4.
– Available to purchase from At-Bay Security, with or without an insurance policy placed by At-Bay.
– Businesses that adopt the solution can unlock financial fraud coverage sub-limits of up to $1M.
To learn about how significant of a threat financial fraud is to businesses, read: ● At-Bay’s 2024 InsurSec Rankings Report – Email Security and Financial Fraud
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