St. Paul Mercury Sued For Coverage Of Hacker's $3.5M Theft

Law360, Los Angeles (January 6, 2014, 7:57 PM EST) -- St. Paul Mercury Insurance Co. was hit with a lawsuit in Pennsylvania federal court Friday over the insurer's allegedly wrongful refusal to cover $3.5 million that a hacker had stolen from a Pennsylvania bank.

First Commonwealth Bank’s complaint claims St. Paul Mercury denied the bank professional liability coverage for the roughly $3.5 million stolen from the accounts of Penneco Oil Co., Penneco Pipeline Corp. and Pennquest Oil Corp. in 2012.

St. Paul Mercury refused to cover the loss because the bank did not obtain the insurer’s...
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