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MIAMILAW1127, Attorney
Category: Business Law
Satisfied Customers: 755
Experience:  Founding Partner at Moises Law, P.A.
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Does E&OE insurance cover cyber fraud? My company was a

Customer Question

Does E&OE insurance cover cyber fraud? My company was a victim of a cyber fraud as the wire instructions sent to our client got spoofed and the wire was sent to a bank in Scotland. Now, my client is refusing to compensate for the loss occurred to our company.
Can my client company file a claim under their E&OE insurance?
Submitted: 1 year ago.
Category: Business Law
Expert:  MIAMILAW1127 replied 1 year ago.

Hello. I am going to be assisting you with your question today.

Please note: This is general information and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

E&O Insurance may cover cyber fraud. You would need to examine your individual policy to determine if it is covered. This would depend wholly on the type of coverage you selected. There are also specific cyber fraud insurances that are separate from E&O insurance that can be purchased.

You can always file a claim under your E&O insurance and see what happens, but you should read your policy first to have a better idea if that is covered.

I hope I have answered your questions. If I have not, please feel free to ask any follow-up questions you may have. Also, please do not forget to rate my response at your earliest convenience.

Thank you.