Ill. Insurance Department Seeks $4M In Wire Fraud Coverage

By Josh Liberatore (July 19, 2022, 5:50 PM EDT) — The Illinois Department of Insurance sued Hartford and Munich Re units in federal court Tuesday, seeking $3.98 million in cyber coverage after one of its administrative offices fell victim to a wire fraud scheme last summer.

The Illinois Department of Insurance is seeking $3.98 million in cyber coverage after one of its administrative offices fell victim to a wire fraud scheme. (iStock.com/solarseven)

Illinois’ Office of the Special Deputy Receiver, or OSD, which manages insurance companies placed into the state’s care via receivership, said it’s owed wire fraud coverage under a financial institution bond for insurance companies issued by Hartford Fire Insurance…

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