What Insurance Covers Social Engineering Fraud?
A crime policy may cover money sent after an employee is tricked only if it includes social-engineering coverage; ordinary funds-transfer wording may require an unauthorized bank instruction.
A supplier, executive, or client impersonation can persuade an employee to change payment details or send money. Chubb describes a social-engineering endorsement for those scenarios, while base funds-transfer wording may focus on a bank instruction made without the company’s knowledge or consent.
Ask whether social-engineering coverage is included, which impersonations qualify, and what verification steps, waiting periods, retentions, or sublimits apply. Read the endorsement alongside the funds-transfer definition.
Coverage Guides Related to Crime Insurance
Sources for This Answer
- Crime Terms and Conditions. The Travelers Companies, Inc.; Insuring Agreements A.1 Employee Theft, A.3 Employee Theft of Client Property, B Forgery or Alteration, F Computer Fraud, G Funds Transfer Fraud, PDF pp.1–5; definitions E and AA, pp.7 and 10; exclusions IV.C–H, pp.14–15. Accessed 2026-09-25.
- Social Engineering Fraud Insurance. Chubb; Opening; Social engineering fraud insurance coverage highlights. Accessed 2026-09-25.