522180

Savings Institutions and Other Depository Credit Intermediation

Cyber Liability Insurance for NAICS 522180

CYB

Ranked reasons a business in NAICS 522180, Savings Institutions and Other Depository Credit Intermediation, needs Cyber Liability coverage. Each reason is specific to how this industry actually loses money, and ends with the question to ask before the objection comes up.

  1. 01

    Customer financial data supports complete identity theft.

    • Account, transaction, loan, and identity data covers every relationship.
    • That data is everything an identity thief needs.
    • Every affected customer must be notified.
    ASK
    How many customer records with account and identity data do you hold?
  2. 02

    Federal regulators require incident notification.

    • Regulators require notification of significant computer security incidents.
    • Examinations assess information security programmes directly.
    • Findings affect ratings and can restrict activities.
    ASK
    What incident notification obligations apply to your institution?
  3. 03

    Payment fraud moves money that does not come back.

    • Wire and payment instructions are executed continuously.
    • Business email compromise targets both you and your customers.
    • Wires clear within minutes and recovery is rarely possible.
    ASK
    How are wire instructions verified before funds are released?

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