Insurers Ask 5th Circuit To Affirm No Coverage Ruling For Phishing Incident

Mealey's (July 26, 2021, 2:00 PM EDT) -- NEW ORLEANS — Under a “straightforward application of contract law,” two insurers tell the Fifth Circuit U.S. Court of Appeals in July 23 briefs that funds stolen in a phishing scheme were not owned or controlled by their policyholder, thus negating any duty for them to reimburse the stolen funds amounts that were voluntarily reimbursed by appellant RealPage Inc....