Innovation

Fraud and Cybercrime

We’re dedicated to understanding the unique risks faced by our membership and providing solutions that allow you and your family to live confidently knowing your assets are properly protected.

  Mike Taylor   SVP and Chief Claims Officer.

Mike Taylor
SVP and Chief Claims Officer.

NEW COVERAGE FOR FRAUD AND CYBERCRIME

Imagine this: You’re set to close on the purchase of a new home when you learn the seller’s attorney did not receive the nearly $1,000,000 wire transfer you sent the day before. It turns out the email you received from the law firm’s server was actually sent by a cybercriminal and contained fraudulent wire instructions, which you followed, wiring the funds to an account in Hong Kong that has since been closed. This is a real scenario experienced by a PURE member, and unfortunately, it’s not the only instance in which a member was impacted by fraud.

As fraud and cybercrime continue to grow, PURE members are an ideal target due to the potential profit to be made with your personal information and the opportunities for exposure arising from your busy lifestyle.

While PURE provides resources to help you better understand cyberthreats and reduce risk—like our Cyber Knowledge Center, our cyber advice line and access to identity protection services offered by AllClear ID—as well as coverage for identity theft under our Homeowners policy, we recognize that there are significant new fraud and cyber-risks for which no coverage was previously available. 

To help better protect your family and your wealth, we introduced PURE Starling™ Fraud and Cyber Fraud Coverage.

SINCE ITS INTRODUCTION LAST OCTOBER, 43 PERCENT OF ALL NEW PURE MEMBERS WHO JOINED ADDED COVERAGE TO THEIR POLICY.

PURE Starling is an optional endorsement you can add to your Homeowners policy. With limits up to $1,000,000 available, it offers protection against financial losses due to fraud, whether it is committed online or offline such as:  

Social engineering. If your authorized account user, like a personal assistant or family office manager, is deceived into wiring money from your account.

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

Forgery. If someone is fraudulently forging checks from your account.

In addition to reimbursement for financial loss, we provide resources and advice from subject-matter experts to help you respond to the following events:

Cyber extortion. If a cybercriminal demands money to prevent the damage or distribution of your information or to restore access to your device.

Systems attack. If you are the target of a cyberattack that damages your software or infects your device.

In order to obtain a limit of $1,000,000, we require an active cyber-monitoring solution to be in place.

With this new coverage, we hope to provide you with a renewed peace of mind, even as fraud and cyber-risks continue to evolve.

 
 
Shield[1].png

Protect against cyber threats. 

From the Equifax breach to email phishing scams, cybercrime continued to make headlines in 2017. To learn how you can safeguard your personal information, download our whitepaper, Cybersecurity and Advanced Techniques to Safeguard Your Data, at puresituationroom.com/cyber.