PF Chang's Loss Highlights Common Holes In Cyber Coverage
Law360, Los Angeles (June 8, 2016, 8:54 PM EDT) -- An Arizona federal court's recent ruling that P.F. Chang's isn't covered under a cyberinsurance policy for assessments that MasterCard charged its card processing agent following a network attack should serve as a wake-up call to policyholders that cyber policies are not a cure-all for every risk tied to a data breach, attorneys say.
U.S. District Judge Stephen McNamee held in a May 31 decision that Chubb unit Federal Insurance Co. doesn't have to cover the $1.9 million-plus that MasterCard charged P.F. Chang's’ payment processor, Bank of America Merchant Services, to deal with fallout from the breach, which compromised 60,000 credit card...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!