Texas-based manufacturing firm AFGlobal Corp. was hit by a business email compromise attack that resulted in fraud losses of $480,000. AFGlobal filed a claim with its insurance company, Federal Insurance Co., a division of Chubb Group. But the insurer denied that claim, stating that business email fraud does not meet the definition of “computer fraud” covered by AFGlobal’s policy. Now AFGlobal has now filed a lawsuit against Federal Insurance in a Texas district court, seeking damages and attorneys fees.”]
Source: https://www.databreachtoday.com/business-email-fraud-whos-liable-a-8851