Hunton and Williams LLP has published its 2016 Retail Industry Year in Review. The Review discusses the key legal and regulatory developments that affected the retail industry last year. In the Review, Hunton insurance coverage attorneys Syed Ahmad, Mike Levine and Jenn White discuss the lessons learned from insurance coverage cases that promise to
Hunton & Williams insurance lawyers, Mike Levine and Sergio Oehninger, were quoted today in a Law360 article analyzing the impact of the recent decision in P.F. Chang’s bid for coverage for certain losses stemming from a 2013 cyber breach. In a June 1, 2016 blog post, Levine and Oehninger criticized the court’s decision and…
In a May 31, 2016 decision, a federal court in Arizona rejected P.F. Chang’s attempt to recover an additional $2 million it paid following a 2013 breach in which hackers obtained and posted on the Internet approximately 60,000 credit card numbers belonging to P.F. Chang’s customers. P.F. Chang’s was insured under a “CyberSecurity by Chubb Policy,” which it had purchased from Federal Insurance Company for an annual premium of $134,000. On its website, Federal marketed the policy as “a flexible insurance solution designed by cyber risk experts to address the full breadth of risks associated with doing business in today’s technology-dependent world” including “consequential loss resulting from cyber security breaches.”
Continue Reading P.F. Chang’s Cyber Coverage – Not As Expected?