Panel: Computer Fraud, Funds Transfer Fraud Provisions Could Cover Alleged Loss

Mealey's (January 27, 2022, 1:48 PM EST) -- PASADENA, Calif. — The Ninth Circuit U.S. Court of Appeals on Jan. 26 held that a federal court erred in finding that neither a “Computer Fraud” nor a “Funds Transfer Fraud” provision in a commercial crime insurance policy covered an insured’s alleged $200,000 loss, reversing and remanding the lower court’s dismissal of the insured’s breach of contract and bad faith lawsuit against its insurer....