Cyber Crime

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The court was required to consider the coverage provided by the insurer’s cyber insurance policy for a claim of damage to a third party “for a security breach”. A “security breach” was defined as “a failure of computer security to prevent unauthorised access or use of [the insured’s] computer systems”. Both the trial…

The massive 2013 data hack affecting Target Corp with losses of $138 million in bank settlements by Target has led to a judgment against the insurer for the insured “loss of use of tangible property that is not physically injured”.  The policy required “property damage” caused by an “occurrence” which included an “accident”. …