First Bank Sues Chubb Unit For $5M After Data Breach

Law360, New York (April 7, 2009, 12:00 AM EDT) -- First Bank is trying to recover about $5 million from Chubb Insurance Co. subsidiary Federal Insurance Co. that the bank says it lost through fraudulent transactions after a data security system was breached.

The breach of contract suit, filed March 5 in the 21st Judicial Circuit Court in St. Louis County, was removed by Federal Insurance to the U.S. District Court for the District of Missouri on Monday.

Federal Insurance issued a cybersecurity policy to First Bank parent company First Banks Inc. for the period from...
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