Article
How the At-Bay Stance™ Financial Fraud Enhancement Endorsement May Unlock Up to $500K in Financial Fraud Sub-Limits*
In 2023, over 2.6 million acts of financial fraud were reported to the FTC, resulting in $10 billion in losses.1 Our own research finds that 9 out of 10 financial fraud claims originated from email, with common schemes including social engineering, business email compromise (BEC), and phishing. Recognizing these threats, At-Bay developed At-Bay Stance Fraud Defense to proactively help protect businesses against email-based financial fraud.
What is At-Bay Stance Fraud Defense?
Fraud Defense is a cutting-edge email fraud monitoring solution that leverages AI and At-Bay’s proprietary risk and threat intelligence data to help detect and prevent fraud in real-time. By identifying anomalous behaviors, Fraud Defense alerts users to potential threats such as leaked employee credentials, suspicious emails with unusual communication patterns, questionable domains, or mismatched email signatures.
Key features of Stance Fraud Defense include:
- Real-time detection of suspicious emails: AI analyzes communication patterns to flag anomalies.
- Visual warnings on suspicious emails: Prominent alert and warning banners are added to suspicious emails, helping users recognize and avoid phishing or BEC (Business Email Compromise) attempts.
- Centralized alert visibility through the Stance dashboard: All alerts are logged and tracked in At-Bay Stance, enabling users to review incidents, investigate flagged emails, and take action before threats escalate.
Stance Fraud Defense seamlessly integrates with Microsoft 365 and Google Workspace to help secure your communication channels, provide peace of mind, and empower you to stay ahead of cyber threats.
How the Stance Financial Fraud Enhancement Endorsement Works
Eligible businesses with the Stance Financial Fraud Enhancement endorsement can unlock additional Financial Fraud Sub-Limits if they activate Fraud Defense, enhancing protection against social engineering and computer fraud claims that originate via email.
How it works:
- Eligibility: Businesses must meet specific criteria to qualify for the Stance Financial Fraud Enhancement Endorsement. Eligible insureds will find this endorsement included with their policy.
- Activation: To receive the Additional Financial Fraud Sub-Limit(s), insureds must activate Fraud Defense within their At-Bay Stance account by connecting their Microsoft 365 or Google Workspace. View other technical activation requirements here.
- Enhanced Coverage: Once activated, insureds will receive the “Additional Financial Fraud Sub-Limit(s)” identified in their Declarations, for specified financial fraud losses arising from email accounts that have activated Fraud Defense. Otherwise, the included Sub-Limits for Social Engineering and Computer Fraud shown in the Declarations will apply to an otherwise covered financial fraud claim.
Refer to the Stance Financial Fraud Enhancement Endorsement for specific terms and conditions.
Note: If you do not have the Stance Financial Fraud Enhancement Endorsement, you are not eligible for the Additional Financial Fraud Sub-Limits afforded via the endorsement. However, you can still activate Fraud Defense within your At-Bay Stance account for improved email security.
How to Activate Fraud Defense and Unlock Your Additional Financial Fraud Sub-Limit
Activating Fraud Defense is quick and straightforward. Please note: only an admin for your Microsoft 365 or Google Workspace account may activate Fraud Defense. If you have any questions or issues with integration, please email security@at-bay.com and we’ll be happy to assist.
View this demo for a tutorial on how to activate Fraud Defense:
Additionally, here are step-by-step instructions:
Step 1: Log in to At-Bay Stance
Go to stance.at-bay.com/new-invitation to create your account or stance.at-bay.com/login to log in to your unified security platform. If you’re having trouble creating or accessing your account, please reach out to security@at-bay.com.
Step 2: Start Fraud Defense Setup
Once logged into your Stance account, navigate to the “Fraud Defense” tab in your dashboard and select “Activate” to begin the activation process. You must be an admin for your Microsoft 365 or Google Workspace account to activate Fraud Defense.
Step 3: Grant Permissions
Grant the necessary permissions to authorize At-Bay Stance to integrate with your Microsoft 365 or Google Workspace account, which include:
- Read mail in all mailboxes (to detect threats).
- Write mail in all mailboxes (to apply warning banners).
- Read audit logs, directory data, and security alerts (to assess and strengthen threat monitoring).
Step 4: Gain Additional Financial Fraud Sub-Limits
Once activated, you will receive the “Additional Financial Fraud Sub-Limit(s)” identified in your Declarations. These sub-limits apply to specified financial fraud losses involving email accounts protected by Fraud Defense, as outlined in the Stance Financial Fraud Enhancement endorsement.
Fraud Defense alerts are now enabled for all domains managed under your Microsoft 365 or Google Workspace instance. Impacted users will see alert banners directly in their inbox and you can view details of each alert in your Stance dashboard.
If Fraud Defense is never activated, or disabled during the policy period, the included sub-limits for Social Engineering and Computer Fraud shown in the Declarations will apply to an otherwise covered financial fraud claim. Refer to the Stance Financial Fraud Enhancement Endorsement for specific terms and conditions.
Questions or issues with integration? Email security@at-bay.com.
* If applicable, the “Additional Financial Fraud Sub-Limit(s)” shown in your Declarations, will apply for specified financial fraud losses arising from email accounts that have activated At-Bay Stance Fraud Defense. Please refer to the Stance Financial Fraud Enhancement Endorsement for specific terms and conditions.
1 Federal Trade Commission, Feb 2024
Eligibility, rules, and limitations will vary based on your risk profile and security requirements.
At-Bay Insurance Services,LLC. In California, License #0L73812.