State National Seeks To Escape Coverage Of $84M Data Breach

By Sean McLernon (April 16, 2013, 1:19 PM EDT) -- Global Payments Inc.'s excess insurer State National Insurance Co. Inc. told a Georgia federal judge on Friday that it has no duty to cover the credit and debit card processor's payments and expenses related to a massive data breach that will cost Global Payments $84 million.

State National filed a complaint for declaratory relief against Global Payments claiming that any expenses based on unauthorized access to credit card numbers are not covered by its excess insurance policy with the company.

The policy applies to professional and technology-based activities, but Visa Inc., MasterCard Inc. and other credit card companies seeking fines and...

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