E-theft Insurance
Protect your business against digital theft.
As a business owner, you may have to bear the financial loss if an unauthorised party gains access to your company’s online banking. E-Theft Insurance provides financial protection against online banking fraud, hacking and phishing, among other risks.
What is E-Theft Insurance?
Digital payments require digital protection.
More and more businesses manage their finances digitally. Payments, salaries, and supplier invoices are handled through online banking – fast and efficient, but also vulnerable. Cybercriminals are exploiting this trend, and digital theft now affects companies of all sizes.
In the event of an incident
A single click on a fraudulent link, a manipulated invoice, or a compromised login can give unauthorized parties access to the company’s accounts.
Once the money has been transferred, it is usually gone for good.
For business customers, the bank typically does not cover the loss, and the company is held liable itself.
Insurance that covers the loss
E-theft banking insurance provides financial security if your company becomes a victim of digital theft.
The insurance covers direct losses resulting from unauthorized transfers from the company’s online bank account. It can also cover necessary expenses for IT investigations, legal assistance, and accounting reviews, helping you resolve the incident quickly and move forward.
An important part of your digital security
Many believe that the bank automatically covers losses from online banking fraud. This is rarely the case for business customers. That is why online banking insurance is an important part of your company’s overall protection together with solutions such as cyber insurance.
Confidence in your digital operations
With an e-theft insurance, your company is better protected against modern fraud. It provides financial security and helps you quickly resume operations if the unexpected occurs.
What does E-Theft Insurance typically cover?
E-Theft Insurance covers direct financial losses as well as reasonable expenses related to documenting and assessing the loss.
Direct financial losses
The insurance covers the loss of money and securities from the company’s online bank accounts if they are stolen through e-theft.
Lost interest during the period between the breach and its discovery is also covered.
Phishing, hacking, and unauthorized transfers
The insurance covers cases where a third party gains unauthorized access to the company’s accounts—whether through its own IT systems, mobile banking, tablets, or external service providers with access.
Expenses for investigation and legal assistance
Reasonable, pre-approved expenses for IT investigations, audits, and legal advice are covered, enabling the company to quickly document and mitigate the loss.
What is not covered by the insurance?
The e-theft insurance does not cover:
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Indirect losses such as business interruption, lost profit, or loss of reputation
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Errors committed by the financial institution or its employees
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Theft committed by the company’s own employees or authorized users
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Losses not directly resulting from an online banking breach
Frequently asked questions about E-Theft Insurance
Who should have E-Theft Insurance?
All businesses that handle digital payments should consider E-Theft Insurance.
The insurance is particularly relevant for businesses with:
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Multiple users with access to online banking
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High transaction frequency
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International payments
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Outsourced IT or finance functions
Even small businesses can fall victim to digital fraud, and a single click can result in significant losses.
Does E-Theft Insurance cover all types of digital fraud?
No, E-Theft Insurance is designed to cover financial losses resulting from unauthorised use of a company’s online banking. Other digital incidents, such as cyberattacks, malware or breaches of the company’s IT systems, would typically fall under Cyber Insurance.
What should I do if my company’s online banking is compromised?
If your company’s online banking is compromised, you should contact the bank as soon as possible to try to limit the financial loss. The claim should then be reported as soon as possible. Read more about how to report a claim and what you should be aware of on our claims reporting page.
Do you have questions about our E-Theft Insurance?
If you have questions about our E-Theft Insurance or would like to learn more about how your company can be covered against financial losses resulting from online banking fraud, our experts are ready to help.
