Insurance will cover $125,000 of Peterborough’s $2.3 million scam losses


Monadnock Ledger-Transcript

Published: 12/15/2021 6:51:57 PM

Modified: 12/15/2021 6:51:22 PM

Peterborough’s insurer will cover $125,000 of the $2.3 million lost in a scam, according to Town Administrator Nicole MacStay.

“There was never an expectation that the losses would be 100% covered,” MacStay said. “We were working with Primex (the New Hampshire Public Risk Management Exchange) all along obviously, and going back and forth with them.”

The town administration received the final answer on coverage just before Thanksgiving.

Primex will also be covering all expenses related to work done by ATOM Group, a cybersecurity firm that handled parts of the investigation alongside the Secret Service. MacStay said that although she never saw the resulting bill from their work, the insurance coverage of this expense was “significant.”

The scam was discovered in August when a total of $2.3…

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