Bibeka Shrethsa quotes me in her article, “6th Circ. DSW Ruling Reveals New Data Breach Coverage Path”
In her article, 6th Circ. DSW Ruling Reveals New Data Breach Coverage Path, author Bibeka Shrestha writes about a recent ruling from the United States Court of Appeals for the Sixth Circuit. The decision, Retail Ventures, Inc. v. National Union Fire Insurance Co. of Pennsylvania, — F.3d —, No. 10-4576/4608, slip op. (6th Cir. Aug. 23, 2012), affirmed the trial court ruling that there was coverage relating to a data breach under a crime policy. Specifically, the court found coverage under the Computer Fraud and Funds Transfer endorsement in the National Union insurance policy.
The article opens:
The Sixth Circuit’s Thursday ruling that a computer fraud rider in DSW Inc.’s crime insurance policy covers losses from hackers’ theft of customer credit card data shows that policyholders without cyber policies can turn to yet another common policy to score data breach coverage, experts say.
The article then explains that the appellate court affirmed the trial court’s ruling “The appeals court upheld a ruling that AIG Inc. subsidiary National Union Fire Insurance Co. of Pittsburgh, Pa., owed $6.8 million to cover a slew of losses the popular shoe retailer suffered after hackers lifted the credit card and checking” information related to customers and multiple stores. Ms. Shrestha quotes me in the article, in which I opined that this should be a very helpful decision for getting coverage for data breaches. You can see the quote and the rest of the article, after the jump, and the full content is available if you or your firm subscribe to the Insurance Law360 site and its content.
Want to read the other opinions and thoughts offered on the subject? Then click on over to 6th Circ. DSW Ruling Reveals New Data Breach Coverage Path to read the entire article.
1 I’ve referenced the excellent trial court decision in multiple pieces that I’ve written about insurance coverage for data breaches, with this article specifically discussing the trial court ruling.
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Nice article, Computer security is more important than ever. I am really scared to death as to what can happen if these malicious hackers were able to take down some major financial institutions.
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yes, the whole godaddy situation put a lot of people on edge this past few days…looks like they got everything squared away. appreciate the insight.
Thanks for sharing this informative post.I read it and i found very helpful.