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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...
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