Software Co. Wants AIG To Cover Deal In $6M Spoofing Scam

Law360 (August 22, 2019, 9:57 PM EDT) -- Investment software manager SS&C Technologies Holdings Inc. is asking a New York federal court to declare that insurer AIG must cover the cost of a settlement over the company's unwitting role in a $6 million heist that wiped out one of its clients.

SS&C said in a complaint filed Wednesday in the Southern District of New York that while AIG had agreed to cover the cost of the company's two-year legal battle under its professional liability insurance policy, the insurer has refused to pay the cost of a settlement in the case based on policy exclusions.

“The Policy is designed to...

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