Lloyd's Insurers Can't Trim $5.5M Cyberattack Coverage Claim

Law360 (November 30, 2020, 8:30 PM EST) -- A Missouri federal judge rejected Lloyd's of London's bid to dismiss a sales company's claim that the carrier "vexatiously refused" to cover the company's $5.5 million cyberattack losses, holding Monday that the carrier's argument contradicts Missouri public policy.

U.S. District Judge Sarah Elizabeth Pitlyk sided with Missouri-based marketing company Maritz Holdings' argument that the state's strong public policy protecting insureds from unfair practices by insurers overrides a "choice of law" contract provision calling for coverage disputes to be heard under New York law. The judge allowed Maritz to proceed with its claim under Missouri's "vexatious refusal" statute, which bars insurers from...

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