Knowledge Centre

Ninth Circuit finds No Coverage under Crime Policy for Client Funds lost in Social Engineering Fraud

August 2017 Blaney McMurtry LLP,

On the March 9, 2017 decision of Taylor & Lieberman v. Federal Insurance Company,[1] the Ninth Circuit Court of Appeals affirmed a decision of the U.S. District Court for the Central District of California holding that a business management firm did not have coverage in respect of client funds which it was fraudulently induced to wire overseas.

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