Judge Says Insurer Doesn't Owe For $11M Cyberattack

Law360, New York (March 17, 2017, 3:26 PM EDT) -- A Georgia judge Thursday found a Great American Insurance Co. policy against computer fraud does not cover $11.4 million in fraudulent debit card redemptions made over the phone.

District Court Judge William S.Duffey Jr. found InComm Holdings Inc.’s GAIC policy does not cover for losses incurred from unauthorized redemption of debit cards it administered, finding both that the redemptions were not made through computers and that the redemptions were not the direct cause of its losses.

InComm provides a service that allows customers to load funds...
To view the full article, register now.