or your agent has issued, or that was issued by someone who impersonates you or
your agent”. Online banking is not analogous to a promise to pay money. Rather, it
is analogous to a transfer of money itself. Losses flowing from online banking
transactions were not covered by the Forgery or Alteration clause in the policy.
Walker v. Aviva Canada Inc., 2011 CarswellOnt 1944 (F.S.C.O. Arb.), consd
Other cases referred to
R. v. Trotter,  O.J. No. 6436, 2012 CarswellOnt 17149 (S.C.J.); Sabean v. Portage La Prairie Mutual Insurance Co.,  1 S.C.R. 121,  S.C.J. No. 7, 2017
SCC 7, 406 D.L.R. (4th) 623, 36 C.C.E.L. (4th) 175, 62 C.C.L.I. (5th) 1,  I.L.R.
¶I-5950, 2 M.V.R. (7th) 1, 274 A.C. W.S. (3d) 619, EYB 2017-275422, 2017EXP-263
Rules and regulations referred to
Rules of Civil Procedure, R.R.O. 1990, Reg. 194, rule 14.05
APPLICATION for a declaration that the respondent was
required to provide coverage for the applicant’s losses.
Stephen Schwartz and Aryan Ziaie, for applicants.
Wayne Morris and Melissa Miles, for respondent.
 SOSSIN J.: — The applicants, Malcolm Silver & Co. Ltd.,
1532383 Ontario Ltd., 1662 Queen West Holdings Inc., 2344 Dufferin Street Inc., 2346 Dufferin Street Holdings Inc., 2401 Eglinton
Avenue West Ltd., 3663 Lakeshore West Ltd., 1179 Weston Road
Inc. and 2150840 Ontario Ltd. (collectively, the “applicants”), bring
this application under rule 14.05 of the Rules of Civil Procedure,
R.R.O. 1990, Reg. 194.
 Malcolm Silver & Co. Ltd. (“Malcolm Silver”) is a company
which purchases properties to renovate, operate and manage
them for a return on investment. The remaining applicants are
corporations that each hold properties purchased and managed
by Malcolm Silver, all of whom were insured by State Farm.
 Malcolm Silver was the victim of sustained fraudulent
activity by Gwendolyne Martinez (“Martinez”) between the years
2013-2017 resulting in losses of over $1 million. The frauds
resulted from various schemes including forged cheques and
unauthorized ABM withdrawals.
 The applicants commenced an action in July 2017 against
Martinez and related defendants to recover losses from the fraud.
The defendants did not defend the action and the applicants
obtained judgment in the amount of $1,003, 164. No funds have
yet been recovered by the applicants pursuant to this judgment.
Martinez also pleaded guilty to fraud-related criminal charges.
 The application arises out of a denial by the respondent,
State Farm Fire and Casualty (“State Farm”), dated September 11, 2017, of a claim by Malcolm Silver relating to losses