TGI Australia Limited v QBE Insurance (Europe) Limited

TGI Australia Limited sought damages for losses incurred due to a cyber-attack, claiming that QBE Insurance (Europe) Limited was liable under an insurance policy. The case was heard by the Supreme Court of Victoria. The primary issue for the Court was whether the cyber-attack constituted a 'computer fraud' as defined in the insurance policy, and if so, whether QBE Insurance was obligated to indemnify TGI Australia under the policy.

The Court first considered the definition of 'computer fraud' within the policy, examining whether the cyber-attack met the criteria set out. It explored the nature of the cyber-attack, including its intent and method, to determine if it could be classified as a fraudulent act. The Court also assessed whether the cyber-attack was an insured peril under the policy and whether any exclusions applied. The reasoning included a detailed analysis of the policy terms and relevant legal precedents to ascertain the proper interpretation of the insurance contract. The Court concluded that the cyber-attack did not constitute 'computer fraud' as per the policy's definition, and thus QBE Insurance was not liable to indemnify TGI Australia for the losses incurred.

As a result, the Court found in favour of QBE Insurance, dismissing TGI Australia's claim for damages. The Court ordered that TGI Australia pay QBE Insurance's costs of the proceeding, as stipulated in the policy. This decision highlighted the importance of precise policy wording and the necessity for insured parties to understand the scope of coverage provided by their insurance policies.