SAN FRANCISCO, Aug. 22, 2018 /PRNewswire/ — Citing the rise in cloud services and cryptomining-driven fraud, Coalition, the leading technology-enabled cyber insurance solution, today announced the first cyber insurance product to protect organizations against fraudulent use of their IT and telephony services, including cloud- and Internet-based services.
Coalition’s Service Fraud coverage reimburses organizations for the direct financial losses they incur as the result of being charged for fraudulent use of business services including Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), Network-as-a-Service (NaaS), and Telephony Services, among others. This new coverage not only insures against traditional forms of fraud, such as telecom toll fraud, but now extends coverage for the thousands of business and cloud-based services used by small to midsize organizations. This new coverage addresses three key risk exposures facing organizations of all sizes:
- Unauthorized access and fraudulent use of an organization’s business services, including cloud and/or internet-based services.
- Toll Fraud, including the unauthorized use and charge for phone lines,…
