Insights
Publications

Are Losses Resulting from Phishing Incidents Covered by Crime Policies Insuring Against Computer Fraud?

November 25, 2019 Blog

It is an all-too-common dilemma. As phishing schemes have become more prevalent and more sophisticated, businesses of all sizes have fallen victim to these attacks where a fraudster will use a spoofed email or other deceptive communication to trick an employee into transferring money into the fraudster’s control. While this is a difficult scenario for anyone to face, two decisions from federal circuit courts have offered policyholders some relief by finding coverage for these losses under policies insuring against Computer Fraud. In doing so, these opinions rejected insurers’ arguments that the theft accomplished through these fraudulent emails did not qualify as Computer Fraud or were not losses that were directly caused by Computer Fraud.

Read the full post: https://www.farellacoveragelaw.com/2019/11/are-losses-resulting-from-phishing-incidents-covered-by-crime-policies-insuring-against-computer-fraud.html/

Firm Highlights

Publication

Another Federal Circuit Finds Phishing Loss Covered Under Crime Policy

Companies of all sizes have fallen victim to attacks whereby fraudsters will use deceptive communications, such as spoofed emails, to trick an employee into transferring money into the fraudsters’ control. While these increasingly prevalent...

Read More
Event

2020 Insurance Coverage Litigation Committee CLE Seminar

Raymond Sheen will speak at the 2020 Insurance Coverage Litigation Committee CLE Seminar session, "Fingerprints, Facial Recognition, Permission? Oh My! Biometric Privacy Coverage Litigation Arriving Soon in Your State." Details: The Illinois Biometric Privacy Act...

Read More
Publication

Wine 'Smoke Taint' Blurs Insurance Coverage Distinctions

Recent wildfires in California Wine Country, particularly those that devastated parts of Napa and Sonoma counties in October 2017, have focused attention on whether insurance covers smoke taint damage to grapes and wine. Many...

Read More
News

Threat of Cyberattack by Iran Still Critical, Experts Say

Insurance Recovery Partner Tyler Gerking commented in  The Wall Street Journal article "Threat of Cyberattack by Iran Still Critical, Experts Say." In the article, Tyler said that such direct actions by a nation-state against...

Read More
Publication

INSIGHT: California Ruling in Wage-Hour Coverage Suit Offers Employers a Defense Hook

Wage-and-hour exclusions are common in EPLI policies, frequently with defense-only sub-limits that are woefully inadequate. Farella Braun + Martel LLP’s Shanti Eagle looks at a recent decision adding an avenue to establish or expand...

Read More
Publication

Reimbursement of Employment-Related Expenses Is Not a “Wage and Hour” Claim Within the Meaning of EPLI Exclusion

A recent California appellate court decision found that a wage and hour exclusion in an Employment Practices Liability Insurance (“EPLI”) policy did not bar coverage for claims under California Labor Code sections 2800 and...

Read More
News

Companies are paying big bucks to insure boards against liability as class-action suits soar

Farella Insurance Recovery Partner Mary McCutcheon was quoted in the CNBC article, "Companies are paying big bucks to insure boards against liability as class-action suits soar." Read the article, here .

Read More
News

North Bay Wineries Taking Insurers to Court Over Denied Smoke Taint Claims

Tyler Gerking, chair of Farella's Insurance Recovery Group, was quoted in the Napa Valley Register article, "North Bay Wineries Taking Insurers to Court Over Denied Smoke Taint Claims." In the article, Tyler said he would expect...

Read More
Publication

Time to Check Your Cyber Insurance

Now that the CCPA is in effect, some companies will need to revise their policies. The cyber insurance markets are beginning to adapt to the new California Consumer Privacy Act (CCPA) which went into...

Read More
Event

2020 Insurance Coverage Litigation Committee CLE Seminar

Join Erica Villanueva for a discussion on "Coverage Arguments that Work in Court but May Backfire at Mediation" at the 2020 Insurance Coverage Litigation Committee CLE Seminar. Details: In mediation, context is everything. Who are you...

Read More