Month: December 2022

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Ohio Supreme Court Holds Ransomware Attack Does Not Cause Direct Physical Loss

Cryptocurrency, Direct Physical Loss, Emerging Issues

This week, in EMOI Services, LLC v. Owners Insurance Company, the Ohio Supreme Court held that a ransomware attack on a medical billing company did not cause direct physical loss of or damage to software, where the company’s computer equipment remained unharmed.  The Court further explained that the computer software does not have a material …

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Third Circuit Affirms Judgment in Favor of Carrier on Insurance Fraud Claim

Fraud

In State Auto Prop. & Cas. Ins. Co. v. Sigismondi Foreign Car Specialists, Inc., the Third Circuit upheld the District Court’s finding that the policyholder had committed insurance fraud when it provided altered invoices to support the values being claimed for allegedly damaged business personal property. The policyholder initially argued that the altered invoices were …

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