Target files $74 million suit against Chubb over breach coverage

The Target has filed a lawsuit against Chubb with the
retailer claiming the insurance carrier did not properly compensate it for
costs incurred following the 2013 data breach.

In the lawsuit Target said the requirement for its banks to
replace its customers physical payment cards that were compromised “Constitutes
‘loss of use of tangible property that is not physically injured,”’ under its
general liability coverage, according to the lawsuit filed in U.S. District
Court in Minneapolis on Friday in Target Corp., a Minnesota corporation, v. ACE
American Insurance Co. et. Al,” according to a Business
Insurance report.

This is just the latest in a series of legal actions brought
both by and against Target in response to the December 2013 data breach that exposed
the PII of 110 million customers, including payment card data.

Chubb has not issued a comment in regards to the court case.