Sony Pictures Entertainment holds $60 million in Cyber insurancewith Marsh, according to documents leaked by the group claimingresponsibility for the attack on the movie studio.
The documents, covered in detail by Steve Ragan at CSO, saythat after sonypictures.com was breached in 2011, Sony made a claimof $1.6 million with Hiscox, its Cyber provider at the time. Theinsurer declined to quote at renewal, so Sony Pictures turned toLockton, which brokered a $20 million policy that included $10million in self-insured retention.
Around April 1 of this year, Sony moved its Cyber policy to AIG,when it acquired $10 million in coverage. This policy, effectiveuntil April 1, 2015, overlaps with its existing coverage, Raganwrites. In May, the movie studio turned to a new insurance broker,Marsh, which reached out to Brit Insurance, Liberty InternationalUnderwriters, Beazley and other carriers to secure upward of $60million in coverage.
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