IFSO Scheme warning: Business insurance may not cover online marketplace scams

November 8th, 2023

The Insurance & Financial Services Ombudsman Scheme (IFSO Scheme) has cautioned businesses that their insurance may not protect them against online marketplace scams. Karen Stevens (pictured above), Insurance & Financial Services ombudsman, said many business insurance policies include fraud exclusions, which means that conventional coverage for lost or stolen items may not apply if a business falls victim to a scam.

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