Bloomberg Law
Nov. 7, 2019, 10:35 PM

AIG Must Face Claims Over Email Fraud Scheme Insurance Coverage

Sara Merken
Sara Merken

AIG Specialty Insurance Company must face narrowed claims in a New York federal court by an investment management software company seeking coverage of a settlement involving a $5.9 million email fraud scheme.

AIG survived SS&C Technologies Holdings, Inc.'s bid for a declaratory judgment that there is coverage available for SS&C’s claim under its policy but failed to ax breach claims, according to a memorandum order filed Nov. 6 in the U.S. District Court for the Southern District of New York.

The case is an example of legal disputes that can arise over whether insurance policies cover online fraud schemes or ...