Release Date: February 5, 2025
At-Bay’s proprietary Fraud Defense solution, available with every Cyber and Tech E&O policy, stops email-based fraud and can unlock up to double the financial fraud coverage sub-limits; with At-Bay MDR for Email, businesses can boost their financial fraud sub-limits up to $1 million
News Highlights
- At-Bay introduces two new InsurSec solutions to uniquely fight the leading driver of cyber claims – email-based fraud.
- Financial fraud led to $2.7Bn in losses in 2023 (FTC), and based on At-Bay claims data, 9 of 10 of financial fraud incidents started with email.
- At-Bay Fraud Defense leverages AI and proprietary risk data to identify anomalous behaviors and prevent email-based fraud attacks. Businesses that adopt Fraud Defense can unlock up to $500k in financial fraud sub-limits, which is double the industry standard.
- At-Bay Managed Detection and Response (MDR) for Email is a premium email security solution that goes even further, offering advanced email security for all types of email attacks, including financial fraud, and is coupled with 24×7 monitoring and response from At-Bay’s managed security team.
- Businesses who use At-Bay MDR for Email can unlock financial fraud sub-limits of up to $1M, which is 4X what is typically offered in the industry.
SAN FRANCISCO, February 5, 2025 – 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.
“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-based 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:
1 Eligibility, rules, and limitations will vary.
2 At-Bay 2024 InsurSec Rankings Report – Email Security & Financial Fraud
3 At-Bay internal claims data, evaluating first-party security risks
4 Based on At-Bay Cyber Claims data experience as of Q3 2024