Shield Yourself from Wire Fraud: Affirmative Coverage for Title Agents

In today's digital world, wire fraud is a growing threat to the real estate industry, specifically affecting title agencies due to how frequently funds are being transferred. A single compromised email can lead to major disruption and devastating financial loss for your agency. SafePro offers peace of mind for title professionals with affirmative coverage for fraudulent wire transfers as a standard component of our broad coverage.?

“Wire and?title fraud?risk reached an all all-time high in Q4 2023 with 52% of transactions having issues that led to a risk of wire and title fraud”??

We provide cyber coverage for hundreds of title agencies and understand the top risks facing their businesses:??

• Wire Fraud: Criminals recognize the large sums of money involved in real estate closing costs and down payments. They use email hacking or spoofing to impersonate parties in the transaction and target your clients’ funds.?

• Fraudulent Sellers: Fraudulent sellers can mimic real estate owners, commonly of vacant properties, listing and selling them without authorization. This leaves you exposed to potential lawsuits and a damaged reputation if you unknowingly work with a scammer.?

• Privacy/Regulatory: Title agencies must report breaches of unencrypted customer information impacting at least 500 customers. This requirement means a broader range of incidents must be reported quickly and publicly.?

• Ransomware: Ransomware threat actors can lock you out of your critical data, including client information and transaction details, halting business operations and potentially causing delays or lost income. A compromise of client data runs the risk of reputational damage to your brand. ?

?Take advantage of market leading cybercrime coverage with SafePro?

• Social engineering coverage extends to loss of customer or third-party funds;?

• Cyber theft coverage extends to theft of the insured’s telephone service, computing resources, and bandwidth; and?

• Coverage is included for fraudulent inducement of your clients or vendors to transfer funds to an unintended third party under false pretenses by impersonating you.?

• Alongside coverage for cybercrime, SafePro includes broad coverage for ransomware attacks, vendor outages, data breaches, and regulatory violations.?

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Protect Your Title Agency Today?

Don't wait until it's too late. Contact our underwriters today to get a quote and let us help you shield your business.?

Please reach out for the attached appetite guide as well to see what other industries SafePro can help protect.?

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Contact Us:??

Victoria Gogol? Tel: +1 (224) 659-9734?

Email: [email protected]?

Website: www.safeprocyber.com?

General questions regarding the Safe Programs can be directed to:?

Michael Lamprecht? Tel: +1 (312) 363-7017? Email: [email protected]?