Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Attacks/Breaches

11/22/2019
02:45 PM
100%
0%

Target Seeks $74M in Data Breach Reimbursement from Insurance Company

The funds would cover some of the money Target paid to reimburse financial institutions for credit card replacement after the 2013 breach.

This article was updated November 25 with comment from Target.

Target has paid banks $138 million to settle claims made by banks stemming from the retailer's massive 2013 data breach. Of that total, $74 million has not been reimbursed by the company's insurers, and now Target has gone to court to force insurance companies to pay up.

The numbers come from a lawsuit filed this week against ACE American Insurance Co., now part of the Chubb Corp. In the suit, Target says that it has been in discussions with ACE for more than a year, but has reached no resolution on claims that ACE has so far refused to recognize.

According to a statement given to Dark Reading by Target, "Target has been in discussions with the American Insurance Company (ACE) for over a year and recently filed a lawsuit against ACE to recoup costs Target had to pay banks for printing and mailing replacement payment cards after the 2013 data breach. We believe the costs are covered within the scope of the insurance policy Target has with ACE and are focused on resolving the outstanding claim."

Target paid the banks to reimburse expenses the financial institutions incurred in canceling and reissuing physical payment cards. In total, Target says that it had about $292 million in expenses related to its data breach, about $90 million of which have been offset by insurance.

For more, read here.

Check out The Edge, Dark Reading's new section for features, threat data, and in-depth perspectives. Today's top story: "In the Market for a MSSP? Ask These Questions First."

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
SOC 2s & Third-Party Assessments: How to Prevent Them from Being Used in a Data Breach Lawsuit
Beth Burgin Waller, Chair, Cybersecurity & Data Privacy Practice , Woods Rogers PLC,  12/5/2019
Navigating Security in the Cloud
Diya Jolly, Chief Product Officer, Okta,  12/4/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: "This is the last time we hire Game of Thrones Security"
Current Issue
Navigating the Deluge of Security Data
In this Tech Digest, Dark Reading shares the experiences of some top security practitioners as they navigate volumes of security data. We examine some examples of how enterprises can cull this data to find the clues they need.
Flash Poll
Rethinking Enterprise Data Defense
Rethinking Enterprise Data Defense
Frustrated with recurring intrusions and breaches, cybersecurity professionals are questioning some of the industrys conventional wisdom. Heres a look at what theyre thinking about.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-4428
PUBLISHED: 2019-12-09
IBM Watson Assistant for IBM Cloud Pak for Data 1.0.0 through 1.3.0 is vulnerable to cross-site scripting. This vulnerability allows users to embed arbitrary JavaScript code in the Web UI thus altering the intended functionality potentially leading to credentials disclosure within a trusted session....
CVE-2019-4611
PUBLISHED: 2019-12-09
IBM Planning Analytics 2.0 is vulnerable to cross-site scripting. This vulnerability allows users to embed arbitrary JavaScript code in the Web UI thus altering the intended functionality potentially leading to credentials disclosure within a trusted session. IBM X-Force ID: 168519.
CVE-2019-4612
PUBLISHED: 2019-12-09
IBM Planning Analytics 2.0 is vulnerable to malicious file upload in the My Account Portal. Attackers can make use of this weakness and upload malicious executable files into the system and it can be sent to victim for performing further attacks. IBM X-Force ID: 168523.
CVE-2019-4621
PUBLISHED: 2019-12-09
IBM DataPower Gateway 7.6.0.0-7 throug 6.0.14 and 2018.4.1.0 through 2018.4.1.5 have a default administrator account that is enabled if the IPMI LAN channel is enabled. A remote attacker could use this account to gain unauthorised access to the BMC. IBM X-Force ID: 168883.
CVE-2019-19230
PUBLISHED: 2019-12-09
An unsafe deserialization vulnerability exists in CA Release Automation (Nolio) 6.6 with the DataManagement component that can allow a remote attacker to execute arbitrary code.