Chubb Unit Tells 2nd Circ. $4.8M Wire Fraud Not Covered

Law360, New York (December 5, 2017, 6:52 PM EST) -- A Chubb Group unit on Monday asked the Second Circuit to find that it does not owe Medidata Solutions Inc. coverage for a $4.8 million loss it suffered when it was tricked into wiring money overseas, saying the fraudster’s use of email does not render it computer fraud.

Federal Insurance Co. asked the panel in its opening brief to overturn a New York federal judge’s ruling that the loss resulting from Medidata employees being tricked by a faked email was covered under computer fraud and fund...
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