Tag Archives: American Tooling Center

Court Finds No Crime Coverage For Computer Fraud Losses

On Tuesday, the U.S. District Court for the District of New Jersey granted Travelers’ motion to dismiss Posco Daewoo America Corporation’s suit for coverage under the computer fraud provision of its crime insurance policy.  Distinguishing itself from precedent like Medidata, Principal Solutions Group, Apache and American Tooling Center, Daewoo did not seek coverage for money … Continue Reading

District Court Holds Narrow Computer Fraud Provision, Restrictive State Law, Means No “Direct Loss” Arising From Fraudulent E-mail Scheme

Highlighting the continued problems faced by policyholders in obtaining coverage for “computer fraud,” a Michigan district court recently held that a manufacturer could not recover $800,000 in funds lost after an employee mistakenly wired payment for legitimate vendor invoices into a fraudster’s bank account after receiving a spoofed e-mail requesting payment. In American Tooling Center, … Continue Reading
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