---
title: "Do cyber insurance policies cover social engineering fraud?"
description: "General information on whether cyber or crime insurance covers social engineering fraud such as fake vendor bank changes, and what insurers commonly ask for. Not insurance advice."
url: https://realpayee.com/answers/do-cyber-insurance-policies-cover-social-engineering-fraud
canonical: https://realpayee.com/answers/do-cyber-insurance-policies-cover-social-engineering-fraud
date_published: 2026-10-05
date_modified: 2026-10-05
author: RealPayee
---

# Do cyber insurance policies cover social engineering fraud?

> Sometimes. Social engineering fraud is often not covered by a standard cyber or crime policy unless a specific social engineering or funds transfer fraud endorsement is added, frequently with a lower sub-limit than the main policy. Some policies also require that changes to payment instructions were verified, for example by callback, before they respond. Check your wording with your broker.

Documented verification of bank-detail changes and large payments helps on both sides: it reduces the chance of a loss and supports a claim if one happens.

_Published 2026-10-05 · Updated 2026-10-05 · By RealPayee_

> [!NOTE]
> This page is general information, not insurance advice. Coverage depends on your specific policy wording, endorsements and insurer. Ask your broker or insurer to confirm what your policy covers.

## Questions to ask your broker

- Does the policy cover losses when an employee is deceived into sending money (social engineering), or only unauthorized system access?
- Is social engineering coverage an endorsement, and what is its sub-limit?
- Are there conditions, such as verifying payment-instruction changes by callback or another method, and how must that be evidenced?
- Does coverage apply to vendor impersonation and executive impersonation alike?
- What notice period applies after a loss is discovered?

## Evidence that helps

- A written verification policy, such as our [bank-change policy template](https://realpayee.com/templates/vendor-bank-change-policy).
- Records showing each change was verified: who, how, when and who approved.
- Fast reporting of any incident to your bank and to the FBI's IC3.

RealPayee does not provide insurance. It creates an audit record of each verification that many teams share with auditors and insurers.

## Frequently asked questions

### Is social engineering the same as computer fraud in a policy?

Often not. Policies may define computer fraud or funds transfer fraud as unauthorized instructions, while social engineering involves an employee authorizing the payment after being deceived. Wording varies, so check definitions.

### Do any vendors guarantee verified payments?

Some verification vendors offer guarantees. For example, Eftsure offers up to $1 million for eligible verified payments lost to social engineering, subject to its terms. See [Eftsure vs RealPayee](https://realpayee.com/alternatives/eftsure).

## Related

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- [Wire fraud prevention: how to stop bank wire fraud](https://realpayee.com/wire-fraud-prevention) - Controls that prevent business wire fraud: out-of-band verification, payment thresholds, dual approval and audit trails. (markdown: https://realpayee.com/wire-fraud-prevention.md)
- [Eftsure vs RealPayee](https://realpayee.com/alternatives/eftsure) - Eftsure vs RealPayee: payee verification with a $1M guarantee versus verifying the real person behind each bank change and high-value payment. Strengths, gaps and when to choose which. (markdown: https://realpayee.com/alternatives/eftsure.md)

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