A U.S. appeals court has rejected one major insurer's “direct loss” defense and ruled that a national retailer is entitled to recover nearly $7 million for a computer-hacking claim.
The case involved DSW Shoe Warehouse and National Union Fire Insurance Co.—the latter a subsidiary of American International Group Inc. (AIG).
The ruling by the U.S. Court of Appeals for the Sixth Circuit in Ohio upholds a district court summary judgment in the state that spurned AIG's attempts to deny coverage via several exclusions, including that the direct-loss provision in its Crime Insurance policy excluded the retailer's computer-hacking claim, according to law-firm Anderson Kill & Olick (AKO), which represented DSW.
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