An important ruling has been made concerning the scope of coverage for data breaches and other cyber risks under traditional commercial general liability policies, and it favors insurers.
In a bench ruling, New York Supreme Court Judge Jeffrey Oing said Zurich American Insurance Co. and Mitsui Sumitomo Insurance Co. has no duty to provide defense coverage to Sony Corp. of America for litigation filed after a cyber attack of Sony’s PlayStation gaming system.
Hackers in 2011 stole personal identification information such as names, addresses, birth dates as well as credit card and bank information, potentially.