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Email › Fraud › Denial of Insurance Coverage

Jones Day

Insurance Coverage for Social Engineering Crimes—How to Avoid Being Victimized Twice

Jones Day on

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

Farella Braun + Martel LLP

Social Engineering Scam Covered By Cyber Insurance

Farella Braun + Martel LLP on

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

Mintz - Privacy & Cybersecurity Viewpoints

Court Holds Crime Policy Covers Business Compromise Email Loss

Mintz - Privacy & Cybersecurity Viewpoints on

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

Cozen O'Connor

Claim For Fraudulent Wire Transfer Under Commercial Crime Policy Found to be Covered, Although Denial Not In Bad Faith

Cozen O'Connor on

Principle Solutions Group, LLC, an information technology company, lost $1.717 million when it became the victim of a fraud scheme for which it sought coverage under the terms of a commercial crime policy issued by Ironshore...more

King & Spalding

Another Cyber Coverage Gap? Some Carriers Resisting Coverage Of Commercial Cyber Fraud

King & Spalding on

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

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