What do cyber insurance forms mean by wire authorization and sign-off limits?

What exactly does the form ask?

These are the forms' own words, with the form and page each comes from.

A wire request documentation form, a protocol for obtaining proper written authorization for wire transfers, and a separation of authority protocol?

Does the Applicant have set dollar limit authorities for employees?

Does the Applicant require multiple sign-offs for payments above $5,000?

What does it mean for a small firm?

Separation of authority means the person who enters a payment is not the person who releases it. A sign-off limit is the amount above which a second person must approve.

How do I answer it truthfully?

Check what your bank's payment system enforces, not what people usually do. If one person can enter and release a payment alone, the answer to a separation question is No.

Can an outside reading check this?

An outside reading cannot see how your payments are approved. Nothing inside your network, your devices or your accounts can be seen from outside, so this cannot be checked that way. Only your own settings and records can show it.

Which questions sit next to this one?

• Payments to a new account
• Supplier bank detail changes
• Fraud training for payment staff
• Money sent to a fraudster: what to do