01
May
2015

Sony, Zurich Reach Settlement in PlayStation Data Breach Case in New York

Insurance Journal

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Sony Corp. of America and Zurich American Insurance Co. have reached a settlement in a commercial general liability (CGL) policy coverage case stemming from the April 2011 hacking of Sony’s PlayStation online services, according to court documents filed Thursday.

Joshua Gold discusses the importance of this matter:

“The case was argued to the intermediate appellate court in New York after the trial court had ruled for the insurance company’s position that there was no coverage,” said law firm Anderson Kill’s Cyber Insurance Recovery Group Chair Joshua Gold, who was not involved in the Sony case.

“Sony appealed that decision to the the intermediate appellate court and even though that argument was briefed and argued before the appellate division, obviously one or more parties decided it was time to settle the case,” said Gold. “So it appears no decision will come from the appellate court now that there is this final settlement.”

Gold said policyholders looking for better clarification over CGL insurance coverage for class action privacy suits stemming from cyber breaches won’t be getting it soon under the New York law with news of this settlement.

To read the full story: http://www.insurancejournal.com/news/east/2015/05/01/366600.htm

Related People

- Cyber Insurance Recovery Attorney | Anderson Kill P.C.
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