{"id":77,"date":"2019-11-07T19:17:00","date_gmt":"2019-11-07T19:17:00","guid":{"rendered":"https:\/\/norwichobserver.com\/?p=77"},"modified":"2019-12-30T19:28:00","modified_gmt":"2019-12-30T19:28:00","slug":"norwich-cyber-scam-insurance-to-cover-loss","status":"publish","type":"post","link":"https:\/\/norwichobserver.com\/index.php\/2019\/11\/07\/norwich-cyber-scam-insurance-to-cover-loss\/","title":{"rendered":"Norwich Cyber Scam: Insurance To Cover Loss"},"content":{"rendered":"\n<p>The Town of Norwich&#8217;s insurance policy will cover the direct loss suffered from the business email compromise (BEC) scam that saw nearly $250,000 stolen from the Town&#8217;s General Fund. Town Manager Herb Durfee made the public announcement at the Selectboard meeting on Wednesday, as seen on CATV, although the Selectboard knew a number of days earlier. <br><\/p>\n\n\n\n<p>The Town&#8217;s insurance is through the Vermont League of Cities and Towns, which oversees the <a href=\"https:\/\/www.vlct.org\/rms\/pacif\" target=\"_blank\" rel=\"noreferrer noopener\">Property and Casualty Intermunicipal Fund or PACIF<\/a>. Previously, PACIF had <a href=\"https:\/\/herecast.us\/984242\" target=\"_blank\" rel=\"noreferrer noopener\">capped coverage for the loss at $25,000<\/a>. <\/p>\n\n\n\n<p>The email to the Town Manager reads in part:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Based on our investigation and the [Burgess Report] we will provide coverage for this loss under the faithful performance coverage. I will prepare payment for the amount of $168,955.00. This figure reflects the S1,000.00 deductible. <br><\/p><\/blockquote>\n\n\n\n<p>Norwich had previously&nbsp; recovered nearly <a href=\"https:\/\/herecast.us\/984242\" target=\"_blank\" rel=\"noreferrer noopener\">$80,000 from a recipient bank<\/a>, making the net loss to be&nbsp; $169, 955.<\/p>\n\n\n\n<p>It was not clear from the discussion whether other costs. such as temporary staff, will be covered.<br><\/p>\n\n\n\n<p>The coverage decision is good news for taxpayers. Public officials still have work to do. In the Selectboard packet is a PACIF Risk Management Report outlining six recommended administrative changes with a target completion date of December 23.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Town of Norwich&#8217;s insurance policy will cover the direct loss suffered from the business email compromise (BEC) scam that saw nearly $250,000 stolen from the Town&#8217;s General Fund. Town Manager Herb Durfee made the public announcement at the Selectboard meeting on Wednesday, as seen on CATV, although the Selectboard knew a number of days earlier. The Town&#8217;s insurance is through the Vermont League of Cities and Towns, which oversees the Property and Casualty Intermunicipal Fund or PACIF. Previously, PACIF <a class=\"more-link\" href=\"https:\/\/norwichobserver.com\/index.php\/2019\/11\/07\/norwich-cyber-scam-insurance-to-cover-loss\/\">Continue reading <span class=\"screen-reader-text\">  Norwich Cyber Scam: Insurance To Cover Loss<\/span><span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-77","post","type-post","status-publish","format-standard","hentry","category-cyber-scam"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Norwich Cyber Scam: Insurance To Cover Loss - Norwich Observer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/norwichobserver.com\/index.php\/2019\/11\/07\/norwich-cyber-scam-insurance-to-cover-loss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Norwich Cyber Scam: Insurance To Cover Loss - Norwich Observer\" \/>\n<meta property=\"og:description\" content=\"The Town of Norwich&#8217;s insurance policy will cover the direct loss suffered from the business email compromise (BEC) scam that saw nearly $250,000 stolen from the Town&#8217;s General Fund. Town Manager Herb Durfee made the public announcement at the Selectboard meeting on Wednesday, as seen on CATV, although the Selectboard knew a number of days earlier. The Town&#8217;s insurance is through the Vermont League of Cities and Towns, which oversees the Property and Casualty Intermunicipal Fund or PACIF. 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Town Manager Herb Durfee made the public announcement at the Selectboard meeting on Wednesday, as seen on CATV, although the Selectboard knew a number of days earlier. The Town&#8217;s insurance is through the Vermont League of Cities and Towns, which oversees the Property and Casualty Intermunicipal Fund or PACIF. 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