FOR IMMEDIATE RELEASE
Weinsurexyz Advises New York Businesses to Review Cyber Insurance Following NYDFS Warning on AI Cybersecurity Risks
New York City, N.Y. — July 14, 2026 — Weinsurexyz, a commercial insurance brokerage serving New York businesses, is advising small and mid-sized companies to review their cyber liability and crime insurance coverage as artificial intelligence creates new cybersecurity challenges, including increasingly sophisticated impersonation and social engineering attacks.
The warning follows a recent advisory from the New York State Department of Financial Services (NYDFS) highlighting heightened cybersecurity risks associated with frontier artificial intelligence models. The advisory encourages regulated organizations to evaluate emerging AI-related threats and strengthen cybersecurity risk management practices as advanced AI capabilities continue to develop.
According to the Federal Trade Commission (FTC), consumers reported losing more than $12.5 billion to fraud in 2024, representing a 25% increase from the previous year. Imposter scams were among the largest reported categories, accounting for nearly $3 billion in reported losses. (Federal Trade Commission)
Cybersecurity threats targeting businesses are also evolving rapidly. Verizon’s 2025 Data Breach Investigations Report analyzed thousands of security incidents and confirmed that attackers continue to rely heavily on methods such as social engineering, credential theft, and exploitation of vulnerabilities to compromise organizations. (Verizon)
“Artificial intelligence is changing the way criminals conduct social engineering attacks,” said Olga Yakubov , CEO at Weinsurexyz. “Businesses need to understand that cyber insurance policies can vary significantly. Coverage for AI-assisted fraud, social engineering, and impersonation attacks depends on the specific policy language, coverage terms, and exclusions.”
AI-enabled fraud schemes can involve criminals collecting publicly available information about executives, employees, or vendors and using artificial intelligence tools to create convincing voice, video, or written impersonations. These schemes may be used to request fraudulent wire transfers, alter payment instructions, obtain sensitive information, or bypass normal business procedures.
Unlike traditional cyber incidents involving malware or unauthorized access to computer systems, many AI-enabled fraud attempts rely primarily on deception and human trust. This creates potential questions about whether a loss may fall under cyber liability, crime insurance, social engineering coverage, or other policy provisions.
Weinsurexyz recommends that New York businesses take the following steps:
1. Review existing insurance coverage
Businesses should ask their insurance broker how their cyber liability and crime policies respond to AI-assisted impersonation, social engineering fraud, and fraudulent payment requests.
2. Understand policy terms and limitations
Companies should review definitions, exclusions, coverage conditions, deductibles, and notification requirements before renewing their policies.
3. Strengthen internal verification procedures
Businesses should establish additional verification requirements for wire transfers, vendor payment changes, and urgent financial requests—even when the request appears to come from a trusted executive or partner.
“Technology continues to evolve faster than many businesses can adapt,” said Yakubov. “Insurance is an important part of a broader cybersecurity strategy, but companies also need strong internal controls to reduce the chance of becoming a victim of AI-enabled fraud.”
Weinsurexyz has published additional information about emerging AI cybersecurity risks and how businesses can evaluate their insurance needs:
New York Regulators Warn: “Fronteer AI” Is About to Make Hackers Faster — Is Your Business Ready?
The company works with New York businesses across industries including construction, trucking, restaurants, staffing, professional services, landscaping, and cleaning services to evaluate commercial insurance solutions, including cyber liability, general liability, professional liability, and workers’ compensation coverage.
More information about cyber liability insurance is available at: Weinsurexyz Cyber Liability Insurance
About Weinsurexyz
Weinsurexyz is a commercial insurance brokerage and a division of Liability Advisors Inc., based in Jamaica, Queens, New York. The company helps small and mid-sized businesses evaluate insurance solutions designed to address commercial risks, including cyber liability, general liability, professional liability, and workers’ compensation.
More information is available at:
https://weinsurexyz.com
Media Contact
Robert Saidov
Weinsurexyz, a division of Liability Advisors Inc.
186-34 Midland Parkway
Jamaica, NY 11432
Phone: (888) 540-7374
Email: info@weinsurexyz.com
Website: https://weinsurexyz.com
