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Expert Analysis

Insurers Must Be Prepared For Cybercrime Coverage Battles

Law360, New York (June 7, 2016, 11:21 AM EDT) -- Financial institution bonds come in various forms, depending on the nature of the insured business (e.g., bank, broker, insurance company). Common forms are fidelity bonds and commercial crime policies. These policies provide first party coverage against losses caused by employee dishonesty, forgery, kidnap, ransom and extortion, computer fraud and other specified financial frauds. These policies are common, and in some cases required by law, for banks, insurers and any entity that has access to or holds funds for others....

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