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-limits1 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.
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InsurSec provider At-Bay introduces new email security solution to help stop financial fraud for its policyholders - At-Bay Stance Fraud Defense. (Graphic: Business Wire)
“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
- 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.
- 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 more about At-Bay’s two new InsurSec solutions, follow the links below:
To learn about how significant of a threat financial fraud is to businesses, read:
About At-Bay
At-Bay is the InsurSec provider for the digital age. By combining world-class technology with industry-leading insurance, At-Bay was designed from the ground up to empower businesses of every size to meet cyber risk head-on. At-Bay Insurance Services, LLC provides insurance protection and security prevention solutions to close to 40,000 businesses in the US, safeguarding up to $800B in collective business revenue, and offers coverage by non-admitted insurers for Cyber, Technology Errors & Omissions (Tech E&O), and Miscellaneous Professional Liability (MPL). The At-Bay Group also includes an active full-stack insurance company and a cybersecurity company. At-Bay Security offers proprietary cybersecurity solutions including At-Bay Stance Managed Detection & Response (MDR).
1Eligibility, rules, and limitations will vary.
2At-Bay 2024 InsurSec Rankings Report - Email Security & Financial Fraud
3At-Bay internal claims data, evaluating first-party security risks
4Based on At-Bay Cyber Claims data experience as of Q3 2024
View source version on businesswire.com: https://www.businesswire.com/news/home/20250205089539/en/
Media contact
Jackie Gray, press@at-bay.com
