February 02, 2018 Articles

Phishing for Fidelity Coverage

Coverage claims under the “computer fraud” rider in fidelity policies for certain types of scam have met with mixed results

by John Pitblado

“Business email compromise” and other “social engineering” schemes have garnered increasing headlines as the scams become more sophisticated and the losses pile up. Coverage claims under the “computer fraud” rider in fidelity policies for these losses have met with mixed results, leaving some policyholders holding the bag for significant losses and pushing insurers to revamp their products.

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