No More Chits to Call In: Computer Crime Policy Does Not Cover Fraudulent Transaction
In Interactive Communications International, Inc. v. Great American Insurance Company, a lawsuit closely monitored by those in the cyberinsurance space, the Eleventh Circuit affirmed a Georgia federal court’s decision, finding an insurance policy’s “Computer Fraud” coverage did not extend to certain losses caused by fraudsters. The decision comports with other recent decisions finding that social engineering fraud schemes do not satisfy the policy’s requirement of losses resulting directly from the use of a computer.
Here, the devil was in the details. InComm operated a…
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