On October 18, 2016, the United States Court of Appeals for the Fifth Circuit held in Apache Corp. v. Great American Ins. Co. that a crime protection insurance policy does not cover loss resulting from a fraudulent email directing funds to be sent electronically to the imposter’s bank account because the scheme did not constitute “computer fraud” under the policy.
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A panel of the Fourth Circuit confirmed that general liability insurance policies can afford coverage for cyber-related liabilities, and ruled that an insurer had to pay attorneys’ fees to defend the policyholder in class action litigation in Travelers Indemnity Company v. Portal Healthcare Solutions, No. 14-1944.
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On February 12, 2014, the National Institute of Standards and Technology issued the final Cybersecurity Framework, as required under Section 7 of the Obama Administration’s February 2013 Executive Order, Improving Critical Infrastructure Cybersecurity. This blog entry highlights the final Framework and offers comparisons to the preliminary framework released in October of last year.
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On November 4, 2013, the China Insurance Regulatory Commission, which is the Chinese regulatory and administrative authority for the insurance sector, issued new measures that require life insurance companies and their agents to ensure the authenticity of the personal data of life insurance policy holders.
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