We insure a business under an MSO Business Owners Policy. The insured used a company that would handle its point of sale. This company was hacked, and the money our insured was owed by this company was diverted to several accounts set up by the hacker to steal the money.

The insured has reported this to the police, the FBI is involved, and they have presented a claim for the theft of money. In reviewing the policy, I do not believe this loss meets the definition of a covered loss by the policy.

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