Jun 12, 2018
In the first part one of a two-part series, Joe Oliva, a partner in Goldberg Segalla’s New York City office, sits down with us to provide background on insurance coverage for social engineering fraud. Joe explains how social engineering fraud, like phishing schemes, has increased greatly due to heavily reliance on emails and texts in the digital age. Joe also sets forth the trend of companies seeking insurance coverage under standard commercial crime policies and fidelity bonds when they fall prey to phishing schemes that result in a transfer of funds based upon fraudulent instruction by an impostor. Joe further describes typical obstacles faced by policyholders when they pursue such coverage bonds. In a forthcoming episode, Joe will discuss significant decisions analyzing coverage under commercial crime policies.