N.M. Panel: Policy Term ‘For A Security Breach’ Is Ambiguous; Coverage Triggered

( June 18, 2025, 8:36 AM EDT) -- ALBUQUERQUE, N.M. — A New Mexico appeals court affirmed a lower court’s summary judgment ruling that a cyber insurance policy covered an underlying third-party claim seeking payment for invoices that a now insolvent health insurer mistakenly wired to a fraudulent bank account, finding that the policy term “for a security breach” is ambiguous and must be construed in favor of the insured and the “loss of money” policy exclusions do not apply....