Bloomberg Law
May 1, 2018, 6:30 PM

Gone Phishing: Travelers Claims Plan Doesn’t Cover Cyber Losses

Daniel R. Stoller

The Travelers Cos. will argue May 2 that cash payments made in connection with a phishing attack aren’t covered under a general crime insurance policy.

The litigation before the U.S. Appeals Court for the Sixth Circuit highlights issues facing companies that seek to use broad insurance policies to regain losses after a phishing scheme—a cyberattack where hackers use email credentials to trick others into sending sensitive information or cash payments.

Companies have turned to insurance providers to recover losses following data breaches or other cyberattacks, such as phishing schemes and ransomware strikes. It still isn’t clear, however, if cyberattacks are ...

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