9th Circuit Panel Refuses To Rehear Ruling In $40M Commercial Crime Coverage Suit

(April 1, 2024, 12:19 PM EDT) -- PASADENA, Calif. — A panel of the Ninth Circuit U.S. Court of Appeals on March 29 voted unanimously to deny insurers’ petition for panel rehearing challenging its reversal of a lower federal court’s dismissal of a financial services company insured’s claim for loss under its commercial crime insurance policy’s “Computer And Funds Transfer Fraud Insuring Agreement” and its claim for tortious breach of the implied covenant of good faith and fair dealing, standing by its finding that the authorized submission of fraudulent electronic data into the insured’s computer system can arguably be described as “fraudulent entry” to trigger coverage....