Media outlets recently reported that Barbara Corcoran, one of the judges on the popular ABC show “Shark Tank,” was the victim of a “spear phishing” scam. See, e.g.,...more
The Situation: Businesses are increasingly at risk of social engineering crimes, and often their commercial insurance policies do not provide the full protection that they expected. The Result: Three recent decisions...more
The Sixth Circuit recently entered a ruling in American Tooling Center, Inc. v. Travelers Casualty and Surety Co. of America, 2018 WL 3404708 (6th Cir. July 13, 2018), soundly rejecting a cyber carrier’s extremely narrow...more
Fraudsters deploy different computer-related techniques but toward the same end – “gaming the system” for their own financial gain. Some victims turn to insurance for recovery. Four recent federal appellate decisions reveal...more
In this month's edition of our Privacy & Cybersecurity Update, we examine Brazil's new data protection regulation, the French data protection authority's warning to two companies of potential GDPR violations and the U.S....more
In recent years, courts across the country have considered policyholder’s claims for insurance coverage for so-called social engineering losses, e.g., losses that result from a criminal tricking a policyholder into wiring...more
As the number and sophistication of social engineering attacks increases, victims are examining their insurance policies to see if they are covered. In The Brick Warehouse LP v. Chubb Insurance Company of Canada, 2017 ABQB...more
In this month's edition of our Privacy & Cybersecurity Update, we examine California's new sweeping privacy law, two U.S. agencies' report on "botnet" threats and the European Parliament's call to suspend the Privacy Shield....more
In this month's edition of our Privacy & Cybersecurity Update, we examine the EU's General Data Protection Regulation going into effect despite some member states lacking in local necessary legislation, a pair of U.S. states'...more
On April 16, 2018, Beazley Group issued a report highlighting increased attacks on Microsoft’s cloud-based business products and services. The report stated that successful attacks typically are achieved by tricking employees...more
A few weeks back, the Insurance Recovery report posted a blog about the difficulty obtaining insurance coverage for “fake president” fraud, which is also known as business e-mail compromise, or social engineering fraud. Two...more
The “business compromise email” is what the FBI calls the “$5 billion scam,” but apparently an insurance company did not agree with an insured company that they had been the victim of a crime....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
Last week, the U.S. Court of Appeals for the Fifth Circuit narrowed the conduct covered under an insurance policy’s computer fraud provision by vacating the judgment in favor of the insured, Apache Corp., and rendering...more