Common use of Computer Fraud Clause in Contracts

Computer Fraud. The Insurer shall pay for loss resulting directly from the use of any computer to impersonate the Insured, or the Insured’s authorized officer or Employee, to gain direct access to the Insured’s computer system, or to the computer system of the Insured’s financial institution, and thereby fraudulently cause the transfer of Money, Securities or Other Property from the Insured’s Premises or Banking Premises to a person, entity, place or account outside of the Insured’s control.