SVB's $73M Fraud Losses Not Covered, Insurers Say

By Hope Patti · May 5, 2026, 4:31 PM EDT

Two insurers said they owe no coverage for a fraudulent scheme that caused the failed Silicon Valley Bank to lose $73 million, telling a North Carolina federal court that the bank...

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Documents

Case Information

Case Title

SVB Financial Group et al v. Federal Insurance Company et al

Case Number

5:23-cv-00095

Court

North Carolina Eastern

Nature of Suit

Insurance

Date Filed

February 27, 2023