Insurer Challenges Panel’s $5.8M Judgment In Dispute Arising From Computer Fraud

Mealey's (July 31, 2018, 10:56 AM EDT) -- NEW YORK — In a July 26 petition for panel rehearing, an insurer argues that the Second Circuit U.S. Court of Appeals’ finding that a firm's multimillion-dollar loss due to a fraudulent wire transfer scheme constituted computer fraud under an executive protection insurance policy “conflicts with decisions” of the other federal circuit courts and the New York Court of Appeals “on a question of exceptional importance to insurers and insureds administering policies with ‘Computer Fraud’ coverage provisions” (Medidata Solutions Inc v. Federal Insurance Company, No. 17-2492, 2nd Cir.)....