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Despite the sophistication in fraudulent schemes, insurers are keeping up with hackers and recognizing the varied approach to the scamming word…and courts are also taking notice. In Mississippi Silicon Holdings, LLC v. AXIS Ins. Co., the United States District Court for the Northern District of Mississippi found no coverage for an insured who was duped into transferring $1,025,881.13 to a Bulgarian-American Credit Bank believing it was the account of one of its suppliers. 2020 WL 869974… Continue Reading