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Cyber Risk – Fictitious Email Scam

Fictitious emails coerced the insured to wire funds. The policy required certain security software and procedure to be in place as a condition of insurance. MDD was instructed to perform a compliance audit.

We were able to review tens of thousands pages of computer log data to verify that such software was not in place during the required period of time and in fact identified the exact date such software was actually installed, which turned out to be post loss.

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