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Direct Means Proximate? Oregon District Court Holds Ransomware Payment Is a Direct Loss

In yet another troubling decision to the crime insurance industry, on Dec. 6, a federal district court, applying Oregon law, found coverage for a ransomware payment under a Computer Fraud insuring agreement. Yoshida Foods...more

12/15/2022  /  Cyber Attacks , Fraud , Hackers , Ransomware

Federal Court in Virginia Rules Securities as Defined in Commercial Crime Policy Must Be Like Money or Have Intrinsic Value

Standard fidelity policies provide coverage for loss of money, securities, and other property directly resulting from employee theft. While most fidelity policies define what constitutes a security, insureds often argue its...more

“Cause(ation)” For Concern: Two Recent Troubling Social Engineering Cases

The most significant coverage issue facing the fidelity industry today is the scope of causation. Whether a court applies a “direct means direct” or a tort-based proximate cause standard often is the deciding factor in...more

Computer Fraud: U.S. Supreme Court Rules There Must Be Unauthorized Access to Violate the Computer Fraud Abuse Act of 1986

Under the Computer Fraud Abuse Act of 1986 (“CFAA”), anyone who “intentionally accesses a computer without authorization or exceeds authorized access” and thereby obtains computer information commits a criminal offense. In...more

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