Bank of America Merchant Services

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

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.”

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