Target Wins Data Hack Coverage From Chubb In Reversal
By Josh Liberatore (March 23, 2022, 8:47 PM EDT) -- Two Chubb units must cover Target Corp. for losses from $138 million in bank settlements over a 2013 data breach, a Minnesota federal judge ruled, reversing the court's prior decision and finding that the retail giant did indeed suffer a "loss of use" of tangible property.
U.S. District Judge Wilhelmina M. Wright said Tuesday that Ace American Insurance Co. and Ace Property & Casualty Insurance Co. are on the hook for Target's settlement liability under commercial general liability policies.
Target has sued its insurers over their refusal to cover claims brought by banks after millions of customers' credit card information was...
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