SDV Insights

Policyholders Get Digital Fraud Coverage Boost At 8th Circ.


Greg Podolak was quoted once again in the latest issue of Law360. This recent posting discussed last week’s decision by the 8th Circuit Court that coverage must be provided for a bank that was hit by a hacker, even if the negligence of one of the bank employee’s was partially to blame.

The opinion should make it difficult for insurers to fight the application of the concurrent-causation doctrine unless they have included language in their policies clearly precluding the use of the doctrine in determining coverage, Greg Podolak, head of Saxe Doernberger & Vita PC’s cyber risk practice.

“This will be a case that, given the context, will serve as a great example for policyholders to refer to in order to challenge wrongful denials when carriers are trying to advance an anti-concurrent cause position,” Podolak said.

The case discussed was State Bank of Bellingham v. BancInsure Inc. n/k/a Red Rock Insurance Co., case number 14-3432, in the U.S. Court of Appeals for the Eighth Circuit.

To read the entire article, click here.






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