Increasingly, insureds such as financial institutions, retailers, and other companies that manage, maintain or process the personal information of their customers are facing claims relating to the improper management of that information.

These claims may arise out of a computer intrusion, when personal information is accessed by unauthorized individuals, and may ultimately lead to unauthorized financial transactions and/or identity theft.

Claims may also arise out of violations of the Fair Credit Reporting Act (FCRA), or the Fair and Accurate Credit Transactions Act (FACTA), an amendment to the FCRA. These statutory provisions are intended to protect the privacy of consumer data within our banking and credit systems by limiting the circumstances under which merchants may access consumer reports, and by limiting the information that may be included on credit card and debit card receipts.

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