Church Insurance St Petersburg

Church Insurance St Petersburg — Check Your Coverage Carefully!

Church Insurance St PetersburgWhen you need new options on Church Insurance in St Petersburg Florida or any of the surrounding areas Strong Tower Insurance is a name you can trust! 

For more than 40 years we have provided competitive solutions and coverage options for Religious Institutions throughout the State of Florida, Georgia, North Carolina, and South Carolina.

Call and speak to one of our licensed agents today by dialing 1-800-329-0093 or use our convenient online information and quote request system by clicking any of the links below for your specific area:

Church Insurance St Petersburg — Is This Covered by My Insurance Part 2?

In our previous article we learned about XYZ Ministries, a popular New Age Christian Congregation with over 8,000 members. Regrettably XYZ Ministries became the victim of Crypto X — a master hacker located in Russia.

Crypto X was able to hack into XYZ Ministries servers quite easily and within the space of three weeks he was able to steal $350,000 from the bank accounts of XYZ Ministries before the accounts were frozen by the bank.

In addition Crypto X was also able to steal the debit & credit card numbers of over 5,000 members of XYZ Ministries.

Unfortunately the security set up by XYZ Ministries was virtually nonexistent making it quite easy for Crypto X to engage in his criminal activities.

Crypto X pocketed more than $825,000 from his hacking attack on XYZ Ministries including $350,000 directly and the remaining $475,000 from credit and debit cards held by members of the Church.

Crypto X is one of the best hackers in the world and also one of the richest, he carefully studied the patterns of expenditures made by XYZ Ministries and was able to string out his criminal pursuits for quite a long time compared to his typical hacking jobs.

Now that the fraud had been discovered the first step taken by the Church was to alert the local authorities. The second step taken by XYZ Ministries was to request reimbursement from their financial institution Mayday Bank.

Within five days XYZ Ministries receives a certified letter from their bank advising them that they regret the loss of their funds from their accounts, but they are unable to reimburse XYZ Ministries of the $350,000 under the Uniform Commercial Code because Mayday Bank provided reasonable security protocols.

The bank’s law firm explained in their declination letter that the method in which the funds were transferred fell outside the guidelines of the Uniform Commercial Code so therefore the bank was not liable to reimburse XYZ Ministries of the $350,000 embezzled from their account.

XYZ Ministries now turns to their business insurance policy for reimbursement, are they covered for his type of claim event?

We will consider that in our next post.

Church Insurance St Petersburg — Call Us Today!

Insuring a Religious Institution is different compared to purchasing commercial insurance for an electrician.  For this reason you should contact Strong Tower Insurance by calling toll-free 1-800-329-0093 so you may speak to one of our licensed agents to discuss your individual needs for Church Insurance in St Petersburg or the surrounding areas.

If you find our website after hours send your request for information by clicking the links below:

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Religious Institutions

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Strong Tower Insurance proudly offers comprehensive solutions for Florida Church Insurance and Insurance for Religious Institutions. Call 800-329-0093 or click for more details.

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Charter & Private Schools

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Taking a one-size-fits-all approach is not necessarily a good idea when it comes to considering all possible areas where Private Schools may be vulnerable to litigation or claims. Click here to see how we can help.

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Pregnancy Centers

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Nonprofit organizations help our communities prosper and it is vital to obtain the appropriate insurance protection. Learn more by clicking our link.

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