Target Corp. can not recover the settlements they paid to banks from Chubb Ltd. entities in connection with a 2013 data breach, a federal appeals court ruled Monday .
The Minneapolis-based retailer was the target of a computer breach that revealed the payment card information to approximately 110 million customers in December 2013.
Paul in November 2019 and accused the insurer wrongly refused to reimburse it in part. of the costs associated with the data breach. The suit was asked to recover up to $ 74 million in costs incurred by Target. Target Corp. against ACE American Insurance Co., et al.
"Target & # 39 ;s theory seems to be that, since debit cards are alleged to have lost their use and Target settled the debit card claims by paying a settlement, the determination of that liability necessarily constitutes damages due to loss of use," it states. of the decision.
The Protocol ”lacks any evidence of evidence as to the value of the use of debit cards either to Target's customers or to debit card companies. And because the value of use is not determined or even approximate … damages can not be "based on" the loss of use ", the decision said.
" Target has not established a link between damages. arising to settle claims related to the exchange of debit cards and the value of the use of these cards, either to the card card holders or the issuers, ”was mentioned in the decision in the granting of the insurers' proposal for a summary judgment. the case is Chubb units ACE American Insurance Co. and ACE Property & Casualty Insurance Co.
Lawsuits and insurance attorneys did not return requests for comment. Catalog