Authored by Sara Weathers

With many companies still working remote due to the COVID-19 pandemic, an environment for cyber criminals to thrive has been created. According to Insurance Business Magazine, one of the most popular tactics being used is impersonator fraud.

Impersonator fraud happens when the cyber criminal pretends to be another person or business, usually to get their victim to send them money. Brian Twibell, CEO of WireSecure, said impersonator fraud was the most common form of fraud reported to the Federal Trade Commission in 2021.

Twibell also said that impersonator fraud usually begins with an email message with the criminal posing as a trusted person or business, asking for money. Cyber insurance coverage is important in situations like these, however, policies don’t always cover impersonator fraud as it preys on human judgment and can invalidate their coverage.

To learn more about cyber coverage options, our AdvoCap Insurance Agency, Inc. team is always available to speak with you about the options for cyber coverage available in the marketplace.

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