October is Cyber Security Awareness Month, a great time to remind your clients that social engineering fraud is a rapidly growing cyber threat. Many assume such fraud is covered by cyber insurance, but it’s not always that simple. Learn how to comprehensively protect your clients.

Internet-based crime shows no sign of letting up. According to the FBI’s Internet Crime Complaint Center, 2019 saw both the highest number of cybercrime complaints and the biggest monetary losses reported since the center’s establishment in 2000. The FBI received an average of almost 1,300 complaints each day and documented more than $3.5 billion in losses for individual and business victims.

There is no one perfect insurance policy for all clients, but retail agents can help their insureds find appropriate coverage forms by focusing on the exposure. This is especially true of cyber liability insurance.