News & Analysis as of

Cyber Insurance Fraud

Bradley Arant Boult Cummings LLP

One Phrase, Multiple Interpretations – How Your Scope of Cyber Coverage Can Vary Depending on Your Jurisdiction

This is a deceptively simple question — risk managers rightfully expect to know the scope of their coverages when they build their insurance programs. Unfortunately, judicial interpretation of common policy terms can turn...more

Ward and Smith, P.A.

Wire-Fraud, Data Breach, and Phishing: A Live Action Role Play for In House Counsel

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At the recent In-House Counsel Seminar, three Ward and Smith attorneys presented a realistic role play response to an incidence of wire fraud, addressing red flags associated with fraudulent communications, corporate incident...more

Kohrman Jackson & Krantz LLP

Coverage Challenges in Ransomware Claims: Cyber Insurance Policies and Trends in Denials

A consistent pattern emerges in data breach and cyber-attack cases when companies turn to their insurers for coverage after such incidents. Whether they possess specialized cyber insurance or not, insurers often decline...more

Dorsey & Whitney LLP

Recent Trends in Wire Fraud Scams: Uncovering and Tackling the Latest Tactics in Hong Kong

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Wire fraud threats have been on the rise in recent years, with Hong Kong becoming a particularly attractive destination for fraudsters due to its status as a global financial hub. Criminals are using increasingly...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - May 2023

In this month’s Privacy & Cybersecurity Update, we review new consumer privacy laws in Tennessee and Indiana, three GDPR rulings by the Court of Justice of the European Union, updates regarding future California Privacy...more

Ankura

Compliance and Insurance Needs Can Narrow Your MDR Search

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When it comes to protecting your organization from cyber threats, Managed Detection and Response (MDR) services are a must. But many businesses overlook the importance of compliance and insurance needs associated with...more

Wiley Rein LLP

Court Finds Business Interruption Coverage for Losses Resulting From Fraudulent Email Scheme

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A Minnesota federal district court has held that a software company is entitled to coverage for losses related to diverted billing emails under its business interruption coverage, rejecting the insurer’s argument that the...more

Genova Burns LLC

Potential Harm Enough For Class Action to Proceed in Data Breach Litigation

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The Third Circuit Court of Appeals has given new life to a putative class action suit led by a former employee of a company that suffered a ransomware attack, leading to her sensitive information being released onto the Dark...more

Wiley Rein LLP

No Coverage for Loss in Consequence of Social Engineering Fraud

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Applying North Carolina law, a federal district court has held that an E&O insurance policy does not provide coverage for loss arising from social engineering fraud despite the fact that the insured’s negligence also...more

Ervin Cohen & Jessup LLP

9th Circuit says Computer-Fraud Policies May Cover ‘Spoofing’

Consider the following two scenarios resulting in identical losses, but potentially two entirely different insurance coverage outcomes. In the first instance, a thief hacks, or gains unauthorized entry, into an insured’s...more

Bracewell LLP

Does Work-From-Home Work for Your Company's Cyber Insurance?

Bracewell LLP on

The start of a new year is always a good reminder to take some time to review key areas and assess whether changes are in order. There are many examples of this both personally and professionally, but a company’s insurance...more

Lowenstein Sandler LLP

Fintech Company Secures Indemnity Coverage Under Professional Liability Policy for Fraudulent Funds Transfer Claim

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What You Need To Know: - Recent case law is trending favorably for policyholders to secure coverage for computer fraud claims under a wide array of insurance policies. - Because several types of policies may be...more

Hinshaw & Culbertson LLP

The Lawyers' Lawyer Newsletter - Recent Developments in Risk Management - Halloween 2019

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Insurance Coverage – Computer Fraud – E-Mail "Spoofing" - Trick or Treat Editors' Note: Does anything cause deeper mortal terror than the prospect of an uncovered loss? In a tale that has an all-too infrequent happy ending...more

Hinshaw & Culbertson LLP

The Lawyers' Lawyer Newsletter - Recent Developments in Risk Management - March 2019

Insurance Coverage – Computer Fraud – E-Mail “Spoofing” - Medidata Sols., Inc. v. Fed. Ins. Co., 729 Fed. Appx. 117 (2d Cir. 2018), 2018 U.S. App. Lexis 18376, 2018 WL 3339245 - Risk Management Issue: Is e-mail “spoofing”...more

Farella Braun + Martel LLP

Social Engineering Scam Covered By Cyber Insurance

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

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

King & Spalding

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

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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

Carlton Fields

Phishing for Cybersecurity Coverage: When is a Fraud a “Computer Fraud”?

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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

Manatt, Phelps & Phillips, LLP

Insurance Recovery Law - August 2015

Insured's Notice to Broker Satisfied Policy Requirements, Illinois Court Rules - Why it matters: An insured's notice to its broker satisfied the policy's notice requirements, an Illinois appellate panel recently...more

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