11th Circ. Upholds Denial of Title Co.'s Cyber Fraud Coverage

By David Minsky (September 6, 2022, 5:57 PM EDT) — The Eleventh Circuit on Tuesday agreed with a lower court that a Florida title company isn’t entitled to insurance coverage after mistakenly wiring funds to an alleged fraudster posing as a mortgage lender because the intended recipient wasn’t included under the policy’s terms.

In its opinion, a three-judge panel upheld a summary judgment issued by the Middle District of Florida against Star Title Partners of Palm Harbor LLC, saying that Capital Mortgage Services, the Texas-based lender that was supposed to receive the funds, isn’t considered one of the entities listed under the plain language of the policy.

The court referred to…

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