October 30, 2017
A New York federal court's recent decision that Medidata Solutions is entitled to coverage for a loss to an email-based theft scheme and a Michigan federal judge's ruling that a tool manufacturer isn't covered for a similar scam added to a body of wildly varied case law on whether computer fraud insurance covers sophisticated criminal plots.
May 23, 2016
The Eighth Circuit's finding Friday that a bank employee's failure to secure a computer network doesn't nix insurance coverage for a fraudulent transfer loss caused by a hacker bolsters policyholders seeking coverage for digital fraud by laying blame at the hacker's feet despite the employee's negligence, experts say.
May 20, 2016
The Eighth Circuit affirmed Friday that a Minnesota bank is entitled to coverage under a BancInsure financial institution bond for a loss due to a fraudulent transfer carried out by a hacker, finding that, although bank employees failed to secure a computer network, the hacker's criminal acts were still the main cause of the loss.