Many business owners shop for insurance by asking one question: What's the cheapest policy I can get? But cyber risk is evolving, and standard commercial policies rarely cover modern digital threats. If a scammer intercepts a wire transfer, a ransomware attack locks your computers, or a third-party software goes down, will your policy actually protect your bottom line?

In this episode, Aaron Bollinger breaks down the key cyber insurance considerations for small and medium-sized businesses. He covers how cyber attacks happen, how business email compromise works, and where the common coverage gaps are.

In this episode, we cover:

• Cyber risks beyond the movies: Why cybercrime isn't just about hackers targeting massive corporations, and how everyday businesses like contractors, medical offices, accounting firms, and retailers face serious digital exposures.
• The reality of business email compromise (BEC): How invoice scams, fake vendor emails, and executive impersonation exploit trust, and how criminals use AI-generated voices and phishing to steal tens of thousands of dollars.
• First-party vs. third-party coverage: What a cyber policy actually addresses, from forensic investigations and data restoration to third-party liability claims if customer information is leaked.
• Social engineering and wire fraud: Why having a cyber policy doesn't automatically mean a voluntary wire transfer to a criminal is covered, and why separate sublimits, endorsements, or commercial crime policies matter.
• Ransomware and operational impact: How ransomware attacks encrypt systems, the role of incident response teams, and what happens when your operations come to a complete halt.
• Cyber business interruption: How lost revenue is handled when a cyber attack disables your systems without causing physical property damage, and how reliance on outside cloud software affects coverage.
• The FBI's internet crime statistics: Looking at the billions lost to cybercrime and why independent verification of payment instructions is critical.
• Internal controls and prevention: The importance of multi-factor authentication (MFA), dual-approval procedures for larger payments, secure backups, and employee training.
• Planning for a coverage review: Five essential questions to ask your insurance broker to uncover hidden gaps in your cyber liability program.

At Bollinsure Insurance Services, we believe insurance should be an active part of protecting your financial future, not just a bill you pay once a year.

Speaking of Insurance is hosted by Aaron Bollinger and Brian Bollinger of Bollinsure Insurance Services.

Learn more or request an insurance review:
Bollinsure Insurance Services
562-268-9355
quotes@bollinsure.com
California Insurance License #6013787

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