Cyber Insurance for Businesses That Email Invoices
Do you email invoices? Then someone can steal them.
A quick word on the scam that’s hitting Utah contractors and small businesses, and the five minutes that can protect you.
How it happens
A scammer gets into an email account, yours or your customer’s, and watches the invoices go back and forth. Then they send one message that looks completely normal: “We changed banks, here’s the new account info.” Your customer pays your invoice. The money goes to the criminal. It’s usually gone within a day.
No hacking required. It doesn’t matter whether you use QuickBooks, Gmail, or Outlook. The scam works on the login and the follow-up email, not the invoice.
Your GL policy doesn’t cover this
General liability covers what happens on the job site. It does not cover money stolen through your inbox, a customer’s payment sent to the wrong account, or the cost of getting your books back after ransomware. Cyber coverage does. For most small contractors and trade businesses it costs far less than people assume.
Five things to do this week
- Verify any bank account change by phone, at a number you already have.
- Turn on two-factor login for email.
- Slow down on “urgent” payment requests, especially ones that seem to come from the boss.
- Check who can get into your invoicing software. Old employees and shared passwords are the usual way in.
- Find out what your policy actually covers.
The five-minute cyber risk check
Tell us how you invoice, how many people you have, and what you’d want covered. We’ll tell you where you’re exposed and what coverage would cost. No obligation, no forms to fill out ahead of time.
Or call 801-352-7100 or email [email protected]
Do Right Insurance. We treat you right.