523991

Trust, Fiduciary, and Custody Activities

Cyber Liability Insurance for NAICS 523991

CYB

Ranked reasons a business in NAICS 523991, Trust, Fiduciary, and Custody Activities, 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

    You hold assets that belong to other people.

    • Custody and trust assets are held and moved on instruction.
    • Fiduciary duty applies to how you protect them.
    • A loss is a breach of fiduciary duty, not a service failure.
    ASK
    What client assets do you hold in custody or trust?
  2. 02

    Transfer instructions are forged and executed.

    • Distribution and transfer instructions arrive from clients and beneficiaries.
    • Fraudulent instructions divert trust assets permanently.
    • Beneficiaries hold you responsible as fiduciary.
    ASK
    How are distribution and transfer instructions verified before assets move?
  3. 03

    Beneficiary and estate records are deeply personal.

    • Records carry family, estate, tax, and beneficiary information.
    • That information is confidential within families as well as outside them.
    • Every affected client and beneficiary must be notified.
    ASK
    What beneficiary and estate records do you hold?

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