Law360, New York (November 4, 2016, 12:10 PM EDT) -- We live in a world where computers dominate company operations and ever-increasing cyber threats and exposures are the norm. The FBI has recently warned that one of the most common and potentially devastating cyberrisks is the business email compromise (BEC) scam.[1] The BEC is a smart, sophisticated phishing scam targeting businesses working with foreign suppliers and/or businesses that regularly perform wire transfer payments. The scam is typically carried out by compromising legitimate business email accounts (often executives) through advanced social engineering or computer intrusion techniques to conduct unauthorized transfers of funds. As a result of these and other types of cyberthreats and exposures, many companies now turn to various cyberinsurance policies as a method of managing cyberrisk. Think your business is covered when a fraudster comes phishing? Courts recently have been grappling with this issue and, as a result, it may be time to reevaluate your cybercoverages....