McGuireWoods Insurance Recovery Blog

McGuireWoods Insurance Recovery Blog

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Crime Insurance, Cyber Insurance, Policy Interpretation

Sixth Circuit Finds Coverage Under Crime Policy for Business Email Compromise

For the second time in ten days, a federal appeals court ruled a crime insurance policy provides coverage for losses arising from a business email compromise.  In American Tooling Center, Inc. v. Travelers Casualty and Surety Company of America, No. 17-2014, 2018 WL 3404708 (Sixth Circuit July 13, 2018), the Sixth Circuit held that Travelers… Continue Reading

Crime Insurance, Policy Interpretation

Federal Court: Computer Fraud Provision Does Not Cover Fraudulent Debit Card Transactions Conducted Over the Telephone

Last month, the Northern District of Georgia issued a strongly pro-insurer decision holding that a policy insuring computer fraud did not provide coverage for $11.4 million in fraudulent debit card redemptions made over the telephone.  In InComm Holdings, Inc. v. Great Am. Ins. Co., No. 1:15-cv-2671-WSD, 2017 WL 1021749 (N.D. Ga. Mar. 16, 2017), the… Continue Reading

Best Practices, Risk Management

Four Questions to Ask Before Renewing Your Policy

Most business insurance policies are issued with one-year policy terms, creating a natural opportunity for businesses, their counsel and risk managers to re-evaluate coverage each year at renewal time. Many companies fail to take advantage of this opportunity and simply renew their policies each year without considering whether their insurance needs – or the coverages… Continue Reading

Uncategorized

D&O Insurance: Five Things Your Company’s Policy Might Cover Which Could Surprise You

Most companies have Directors & Officers Liability (“D&O) insurance.  As the name of the policy suggests, these polices provide coverage for lawsuits against a company’s directors and officers for acts performed in the course of their duties.  But policyholders are sometimes surprised to learn that D&O policies may provide coverage in a number of other… Continue Reading

Best Practices

Best Practices for Getting Notice Right

All insurance policies have provisions requiring timely notification of a loss or claim to the insurance carrier. Commercial general liability policies, for example, provide that the policyholder “must see to it that we are notified as soon as practicable of an ‘occurrence’ or an offense which may result in a claim” and that “[i]f a… Continue Reading

Construction Insurance, General Liability, Policy Interpretation

Subcontractor’s Defective Work Covered Under CGL Policy, Iowa Supreme Court Holds

Last month, in a lengthy decision over the dissent of three justices, the Iowa Supreme Court joined the ranks of state high courts to conclude that defective work performed by a subcontractor is covered under the standard Commercial General Liability (CGL) policy held by almost all general contractors today. The case arose from the construction… Continue Reading

Duty to Defend, Duty to Indemnify, Policy Interpretation

Fourth Circuit Affirms Denial of Coverage for Accidental Gunshot Injury

On April 14, the Fourth Circuit held that an insurer owed no defense or indemnity coverage for an underlying personal injury suit against the policyholder’s employee, a security guard who accidentally shot a friend while socializing at the business off-hours. The court concluded that the firing of the gun was not within the scope of… Continue Reading

Additional Insured Coverage, Bad Faith, Business Interruption, Crime Insurance, Cyber Insurance, Financial Institution Bonds

8th Circuit: Financial Institution Bond Provides Coverage for Fraudulent Wire Transfers

With policyholders facing increased losses from hacking and business email compromise, insurers are fighting hard to escape their obligations under financial institution bonds, crime policies and cyber insurance policies. In a case that bolsters policyholders seeking coverage for digital fraud, the U.S. Court of Appeals for the Eighth Circuit held that a bank’s financial institution… Continue Reading

Cyber Insurance, General Liability

Fourth Circuit Affirms Insurance Coverage for Cyber Claim Under CGL Policy

In a decision issued April 11, the Fourth Circuit added to a small but growing body of case law across the country finding coverage for cyber claims under traditional general liability insurance policies. In Travelers Indemnity Co. v. Portal Healthcare Solutions, LLC, No. 14-1944, − F. App’x − 2016 WL 1399517 (4th Cir. April 11, 2016),… Continue Reading

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