With its July 2017 ruling in Medidata Solutions v. Federal Insurance, the U.S. District Court for the Southern District of New York became the first federal court to rule that losses due to phishing scams were covered under a cyber insurance computer fraud policy.
The Medidata ruling stood apart from other rulings on similar cases in district courts in the Fifth, Sixth and Ninth circuits. In those cases, courts found that such policies did not cover situations where employees are tricked by cybercriminals into transferring funds to false accounts.
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