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CertifID, ALPS aim to protect law firms from wire fraud

Monday, April 28, 2025 — 15:25:37 (UTC)

Apr 28, 2025 10:00 AM Eastern Daylight Time

CertifID Announces Partnership with ALPS Insurance to Protect Law Firms from Wire Fraud

CertifID to offer exclusive wire fraud protection packages specific to ALPS insured attorneys AUSTIN, Texas & GRAND RAPIDS, Mich.--(BUSINESS WIRE)--CertifID, a leader in wire fraud protection, announced a partnership with ALPS Insurance, a leading insurer of solo and small law firms in the U.S. The partnership creates a comprehensive solution for attorneys to protect their firms from the growing risk of wire fraud.

Law firms that handle the disbursement of large settlement and vendor payments can increasingly become key targets of wire fraud. ALPS Insurance selected CertifID as its sole partner to cover this specific risk for its customers. Share

Wire fraud was the second-costliest type of cybercrime reported to the FBI Internet Crime Complaint Center (IC3) last year. Also referred to as business email compromise (BEC), wire fraud attacks employ impersonation and social engineering to trick individuals into sending money to a fraudulent account. Reported losses from BEC have grown eleven-fold in the past decade, from $246 million in 2015 to $2.8 billion in 2024.

Attorneys increasingly need coverage against this type of loss. Law firms that handle the disbursement of large settlement and vendor payments can increasingly become key targets of wire fraud. ALPS Insurance selected CertifID as its sole partner to cover this specific risk for its customers.

CertifID provides end-to-end wire fraud protection that encompasses: prevention from its fraud intelligence and verification software, and incident response from its proprietary wire fraud insurance and recovery services. The company has been an early pioneer in offering wire fraud insurance coverage since 2020 to address risks outside the protection of other traditional forms of errors and omissions (E&O), personal liability, cyber, and crime policies.

“ALPS Insurance is pleased to partner with CertifID due to the company’s impressive track record of consistently keeping their customers safe against the rise in losses from wire fraud,” said David Bell, President and CEO of ALPS Insurance. “We strongly recommend that our insured attorneys adopt the CertifID solution to protect against the latest risks to modern law firms.”

“CertifID is honored to partner with ALPS Insurance, which has been a leader and innovator in serving the needs of solo and small law firms,” said Tyler Adams, CEO of CertifID. “We look forward to leveraging our company’s experience in successfully protecting law firms to now support ALPS insured attorneys as part of this exciting partnership.”

Beginning today, ALPS insured attorneys can purchase a choice of two CertifID packages. The companies will discuss these exclusive offerings in a continuing legal education (CLE) webinar on April 30, 2025. Register to attend the webinar at this link, or visit certifid.com/partners/alps to learn more.

About CertifID

CertifID is a leader in wire fraud protection. The company safeguards billions of dollars every month from fraud with advanced software, digital payments, direct insurance, and proven recovery services. Trusted by title companies, law firms, lenders, real estate agents, home buyers and sellers, and others, CertifID provides further peace of mind with up to $2M in direct coverage on every wire it protects. Learn more at: www.certifid.com.

About ALPS Insurance

ALPS is the nation’s leader in insurance for solo and small law firms and is endorsed by more state bars than any other insurance company. Since 1988, ALPS has been the preeminent provider of legal malpractice insurance, with an emphasis on protection, stability, and commitment to the legal community.

Contacts

Claudia Lee 512-630-6556 alps@certifid.com

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Source: Company press release.

Categories: Partnership