Medidata Win Fortifies Policyholders In Digital Fraud Fights
Law360, Los Angeles (July 24, 2017, 8:06 PM EDT) -- A New York federal judge recently ruled that a thief's use of emails to trick employees of Medidata into wiring money overseas was a covered incident under the company's computer fraud policy, weakening insurers' arguments that such coverage is meant to apply only to hacking into policyholders' computers.
The computer fraud provision in Medidata Solutions Inc.'s crime policy covered losses that occurred as a result of the "fraudulent entry" or changing of data in the policyholder's computer system. In a Friday decision, U.S. District Judge Andrew L. Carter Jr. held that while Medidata's computers weren't directly hacked by a third party,...
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