Typically, comprehensive cyber insurance policies, rather than commercial crime policies, respond to claims of data breach and other cybercrimes. With the rise in hacking and ransomware attacks worldwide, businesses that may...more
The Indiana Supreme Court, applying Indiana law, has held that an insured may be entitled to coverage for a ransom payment under a commercial crime policy if the circumstances of the attack “fraudulently caused” the insured...more
A federal district court in Dallas, Texas has held that an insured's commercial crime policies were not triggered by a $6 million phishing loss where the insured did not "hold" the stolen funds. The case is RealPage Inc. v....more
With unprecedented activity online, cybercrime is growing in frequency, sophistication and aggregate effect. Despite the increased visibility of cybercrime, cybersecurity continues to lag behind this curve. Cybercriminals...more
Companies of all sizes have fallen victim to attacks whereby fraudsters will use deceptive communications, such as spoofed emails, to trick an employee into transferring money into the fraudsters’ control. While these...more
Welcome to our newest publication, The Robins Kaplan Insurance Insight. Our goal is to deliver practical content to help you navigate the current challenges and latest developments in the insurance industry. This newsletter...more
In the fast-developing world of cyber threats and corresponding cyber coverage, at least two insurance carriers are pushing back against covering losses arising out the transfer of funds to cyber fraudsters after employees...more