Medidata Win Buoys Insureds In Phishing Coverage Fights
Law360 (July 9, 2018, 10:00 PM EDT) -- The Second Circuit affirmed Friday that Medidata Solutions Inc.'s crime insurer must cover a $4.8 million loss it suffered when its employees were tricked into wiring money by a crook posing as Medidata's president in an email, giving policyholders ammunition to combat insurers' arguments that email-based "phishing" schemes don't trigger computer fraud coverage.
In a summary order, a three-judge panel of the appeals court said U.S. District Judge Andrew L. Carter Jr. got it right when he ruled in July 2017 that Medidata's loss is covered under the computer fraud provision in the clinical research technology company's crime policy with Chubb...
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