Flood Basics still causing pain for some
The Standard Formula Podcast | Using an Internal Model to Calculate the Solvency Capital Requirement
The Standard Formula Podcast | Dissecting the Solvency Capital Requirement
Best Practices for Negotiating Manuscript Exclusions
AGG Talks: Healthcare Insights - Episode 1: A Primer for Providers When Insurance Companies Refuse to Pay
The Standard Formula Podcast | Solvency II Back to Basics: Technical Provisions
D&O Insurance Myths (Part 2)
Hinshaw Insurance Law TV | Bad Faith Law
The Standard Formula Podcast | Investment Rules for Insurers and Reinsurers
D&O Insurance Myths (Part 1)
The Standard Formula Podcast | Understanding the UK’s Matching Adjustment Regime
The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
Standard Formula Podcast | Reinsurance and Risk Transfer: Risk Mitigation Under the Solvency II Regime
Hinshaw Releases Second Edition of Duty to Defend: A Fifty-State Survey
Hinshaw Insurance Law TV – Transaction Insurance Solutions
The Standard Formula Podcast | Understanding Insurance Resolution Regimes
The Risk Roundtable: Demystifying the Intersection Between NJ Workers' Comp & Employment Practice Liability
GILTI Conscience Podcast | Tax Insurance 101
Insurance for the Cannabis Industry: Risks & Challenges
The Standard Formula Podcast | International Association of Insurance Supervisors: Who They Are and Their Industry Impact
On November 18, 2022, the U.S. Department of Justice (DOJ) announced charges against 10 defendants in its first coordinated action against individuals using business email compromise (BEC), money laundering, and wire fraud...more
As an update to our March 8, 2022 blog post discussing coverage for phishing scams in the context of Ernst & Haas Mgt. Co. v. Hiscox, Inc., 23 F.4th 1195 (9th Cir. 2022), a new Alaska case relied on Ernst & Haas to find...more
Your CFO or accounts payable clerk receives a legitimate-looking email supposedly from the company’s president authorizing a wire transfer to a vendor or business partner. In reliance on that email, the company’s bank is...more
As we previously reported, in February 2021, a Texas federal court ruled that RealPage Inc. was not entitled to insurance coverage for funds diverted in an email phishing scheme because RealPage did not “hold” the diverted...more
Cases discussed in our January Insurance Update answer these questions: •A commercial crime policy covers property that the insured “holds for others.” In the context of a phishing scheme, does “hold” mean the insured...more
On April 9, 2021, the Ninth Circuit Court of Appeals affirmed a lower court’s ruling that Starr Surplus Lines Insurance Co. need not provide coverage for Alorica Inc.’s loss from a 2018 phishing attack because the letter...more
RealPage was the victim of a phishing scheme that resulted in the diversion of its client funds from the bank account of a third-party payment processer, Stripe Inc. In the ensuing insurance coverage litigation styled...more
In our March Insurance Update, we discuss four state supreme court cases and four cybercrime cases. The state high courts address: •From whose perspective should a consent-to-settle provision be judged? •What standard...more
A New Jersey federal district court recently ruled that there was no coverage under a title agent's errors and omissions policy for losses resulting from an email phishing scam. In Authentic Title Services, Inc. v. Greenwich...more
An insurer recently secured a ruling that it had no obligation to cover a loss incurred as a result of an email phishing scam. In Midlothian Enterprises, Inc. v. Owners Insurance Company, No. 3:19-cv-51 (E.D. Va. Feb. 20,...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
It is an all-too-common dilemma. As phishing schemes have become more prevalent and more sophisticated, businesses of all sizes have fallen victim to these attacks where a fraudster will use a spoofed email or other deceptive...more
Following in the footsteps of the New York Department of Financial Regulation (NYDFS) in enacting cybersecurity requirements for the financial services industry, and in response to massive data breaches in the insurance...more
Cyber incidents can take many forms—phishing, insider theft, SQL injection, malware, denial of service, session hijacking, credential farming, or just old fashion “hacking.” Although many of these attack vectors employ...more
A new Sixth Circuit decision may signal an emerging trend on whether insurers must cover claims made by policyholders who fall victim to phishing scams....more
On insurance coverage issues, sometimes the boat seems to be listing in the wrong direction. For example, insurers have long tilted the decks to avoid coverage for “spoofing” attacks and similar kinds of email fraud by...more
“Phishing” is a scheme in which criminals use spoofed e-mails, copycat websites, or other deceptive communications to trick unwitting companies or individuals into sharing valuable personal information or into wiring money to...more
Cybersecurity Task Force Launched in Arizona - Arizona Governor Doug Ducey launched the Arizona Cybersecurity Team (ACT) by Executive Order on March 1, 2018. The ACT is comprised of 22 members representing officials from...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
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
The coverage landscape for “Business E-mail Compromise” (BEC) scams remains somewhat tenuous, as organizations and carriers continue to battle in court over the extent of coverage. Although recent positive,...more
In late June, the New York Court of Appeals affirmed a trial court ruling that there was no coverage for a health insurance company policyholder, under a “Computer Systems Fraud” rider issued by its insurer, for an underlying...more