This week Rosen Millennium Technology Group, the sister company to Rosen Hotels & Resorts, was sued by its insurance company, St. Paul Fire & Marine, which is denying coverage for a data breach that was discovered in 2016. ...more
As the demand for insurance coverage for cyber-related losses continues to grow, more insurance companies are offering cyber insurance policies and endorsements, but the market is far from mature and the available policies...more
A picture might be worth a thousand words, but could it also be worth a thousand dollars? New technology by MasterCard and Amazon may mean that the new hammock you’ve been eying online is only a camera flash away....more
Payment Card Industry fines and penalties are fines charged by payment card brands like Mastercard and Visa to merchants’ acquiring banks for violation of their industry rules and regulations, which often occurs when there is...more
In one of the first court decisions to analyze in depth the coverage provided by a cyber policy, a federal judge has found that PF Chang’s policy came up short. Following a 2014 data breach in which hackers accessed and...more
On September 29, 2015, the PCI Security Standards Council (“PCI SSC”) issued a press release and accompanying guidance to businesses for incident response management in the event of a data breach. PCI SSC is a global forum...more
Card-issuing banks are forging ahead with their lawsuit against Target arising from the 2013 holiday shopping season data breach. Their July 1 motion for class certification has just been unsealed, allowing a glimpse at...more
Visa, Inc. announced on August 18th that it has reached a settlement with Target for $67 million to reimburse Visa for costs associated with the Target data breach in late 2013, including issuing millions of new cards to...more
Large-scale data breaches have become increasingly common, bringing with them not only bad press and loss of customer goodwill, but serious monetary risk. New cyber security legislation enacted in multiple states, including...more
Banks have stymied an out-of-court settlement reached between Target Corp. and MasterCard in the multi-district litigation over Target’s massive data breach during the 2013 holiday season. MasterCard, who has estimated that...more
Senior U.S. District Court Judge Paul Magnuson issued an order on Thursday, May 7 denying a request by counsel for card issuer banks to enjoin the settlement of data breach related claims negotiated between Target and...more
Major credit card companies, including Visa, MasterCard, Discover, and American Express, have announced plans to switch to EMV cards in the United States over the course of 2015. ...more