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Cyber Insurance and Information Security

Kathleen Balthrop Havener

In 1976, students at the University of Alabama who participated in the Law School’s second-year moot court competition faced a hypothetical case involving stand-alone mechanical devices that used optical scanning equipment and a telephone data connection to dispense a fixed amount of cash when a user inserted a specially coded card. Before I became (vicariously) familiar with that one moot court problem, I had never heard of an automated teller machine. It was still a dozen years or more before the term “ATM” was in widespread use. By 2015, though, it was estimated that there were at least 3 million ATMs operating worldwide. And to think that today I can safely make deposits into my bank account without changing from my PJs!

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