Pure Starling Fraud and Cyber Fraud Coverage

Pure Starling Fraud and Cyber Fraud Coverage

Did you know that as an individual you are able to purchase Cyber Liability or Data Breach Insurance?

It’s true, you don’t have to be a business to have protection. There aren’t a lot of insurance carriers with this coverage, but as time goes on, we will see more companies entering the market. Currently we are able to offer this coverage through AIG Private Client and Pure Insurance in Connecticut.

Daigle & Travers writes insurance with over 30 insurance markets. One of the best personal products in the market right now for an individual is Pure Insurance’s Starling product. Below are some highlights of the coverage that are offered.

PURE STARLING

Fraud and Cyber Fraud Coverage

From identity theft to phishing emails, phone scams and cyber breaches, fraud and cybercrime are on the rise as criminals find new ways to exploit vulnerabilities. And, due to their wealth and uniquely complex lives, high net worth individuals are at a greater risk of being targeted.

To help you respond to these risks, PURE Starling is an optional endorsement designed to enhance Pure’s High-Value Homeowners policy by adding coverage for losses caused by fraud and cybercrime. Additionally, they provide access to resources to help you recover if you become a victim.

PURE Starling includes broad coverage for fraud and cybercrime, including:

• coverage for financial loss resulting from online and offline fraud
• services to help you assess and respond to cyber extortion threats
• coverage to remove malware and reinstall software after an attack

Online and Offline Fraud Coverage

Pure’s coverage helps to reimburse you for financial loss due to fraud, whether it is committed online or offline.

Coverage is intended for:

Social Engineering. If your authorized account user (such as a personal assistant or family office manager) is deceived into wiring money from your account.

Unauthorized Transfer or Payment. If a credit card transaction, bank payment or wire transfer is made without your authorization.

Criminal Deception. If you are deceived into making a payment or providing something else of value.

Forgery or Alteration of Checks

Acceptance of Counterfeit Money

Identity Fraud

True Claims Stories

A PURE member wired $11,000 to reserve a vacation home for their family from what appeared to be a legitimate online rental website. It was later discovered that the listing was fake and not affiliated with the site. The money had been transferred to a fraudulent account in England and was unable to be recovered.

When a PURE member discovered $240,000 had been wired from his account, he contacted his bank. He learned the bank had received an email appearing to be from the member and had called the member’s cell phone to validate the transaction. The criminal had redirected the member’s cell number to their own phone and confirmed the amount and wire instructions.

A PURE member was browsing the Internet when they received a pop-up window stating their computer would be locked and all files would be deleted unless a $10,000 ransom was paid within the next 24 hours.

ADDITIONAL COVERAGE HIGHLIGHTS

Cyber Extortion Coverage

Cyber extortion coverage is a type of online attack in which a cybercriminal demands money to prevent the damage or distribution of content or to restore access to the functionality of your device. If you are the target of cyber extortion, PURE’s coverage affords immediate access to crisis management advice from a expert to help you best respond to the threat. In the event that a payment is made, it covers the amount of the payment.

Systems Attack Coverage

Should you become the target of a cyber-attack, PURE’s policy helps provide coverage for the cost of a professional to reinstall damaged software, remove malicious code, reconfigure your device or system and replace electronic data that has been lost or corrupted.

Are you scared yet?

Don’t be. Sadly it is not a matter of if you can be hacked, it’s a matter of if someone decides to use your information. Discouraging, we know. It’s a good thing that we have insurance carriers that understand the needs of their successful clients and are creating a product to help protect them.

I’m sure you have many questions concerning Cyber Insurance. We want to answer them for you.

For more information reach out to Daigle & Travers Insurance. We have three convenient locations in Connecticut: Wilton, Darien, and Westport. One of our many experienced insurance professionals will be able to guide you through the insurance process. Call us at 203-655-6974 or email us at info@dt-ins.com.

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