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Tuesday, May 25, 2021 The Indiana Supreme Court recently reversed a trial court’s finding and an affirming intermediate appellate court opinion regarding the interpretation of a policy providing coverage for cyber-crime. In G&G Oil Co. of Indiana, Inc. v. Continental Western Insurance Co., the state high court rejected the lower courts’ narrow interpretation of coverage and impractical view on causation. A copy of the decision can be found here. Over three years ago, G&G Oil was locked out of its computer systems by a hacker following a social engineering fraud that was allegedly initiated by a targeted spear-phishing email. After consulting with the FBI and other tech services, G&G Oil paid a Bitcoin ransom to regain access to its computer systems and operations. ....
Second Circuit Allows Data Breach Claims for Increased Risk of Identity Theft The U.S. Court of Appeals for the Second Circuit has ruled that plaintiffs can establish standing to pursue claims arising out data breaches based solely on an increased risk of identity theft, provided that the plaintiffs can demonstrate that the risk is sufficiently concrete. On April 26, 2021, in McMorris v. Carlos Lopez and Associates, 1 the Second Circuit ruled that affected data subjects who have alleged only an increased risk of identity theft following a data breach can have standing to bring a claim. The ruling is somewhat of a departure from other circuits’ decisions on similar issues, in which data subjects without a concrete injury had been denied standing to sue. However, although the court ruled that it was possible to have standing based solely on increased risk, it denied standing in the specific case before it based on its determination that the plaintiffs had not show ....
To embed, copy and paste the code into your website or blog: The Indiana Supreme Court, applying Indiana law, has held that an insured may be entitled to coverage for a ransom payment under a commercial crime policy if the circumstances of the attack “fraudulently caused” the insured to make the payment. The court also held that the ransom payment resulted “directly” from the use of a computer. In November 2017, the insured, a Midwest-based oil company, experienced a ransomware attack. Given the impact to its computer systems and business operations, the company elected to pay the demand valued at approximately $35,000 to obtain a decryption key to unlock its systems. ....