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RealPage, Inc. v. National Union Fire Insurance Co. of Pittsburgh, PA.

Court: ND Tx  02/24/2021  No Coverage Under Commercial Crime Policies for Phishing Scheme Losses

A court of the Northern District of Texas granted primary and excess commercial crime policy insurers' motions for summary judgment on all claims against them under commercial crime policies because $10 million phishing scheme was perpetrated against accounts of third-party facilitator of certain sums payable to insureds' clients, and thus funds were not owned or held by insured in order to satisfy coverage requirements under the commercial crime policies.

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