Sony Pictures Entertainment holds $60 million in Cyber insurance with Marsh, according to documents leaked by the group claiming responsibility for the attack on the movie studio.
The documents, covered in detail by Steve Ragan at CSO, say that after sonypictures.com was breached in 2011, Sony made a claim of $1.6 million with Hiscox, its Cyber provider at the time. The insurer declined to quote at renewal, so Sony Pictures turned to Lockton, which brokered a $20 million policy that included $10 million 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, effective until April 1, 2015, overlaps with its existing coverage, Ragan writes. In May, the movie studio turned to a new insurance broker, Marsh, which reached out to Brit Insurance, Liberty International Underwriters, Beazley and other carriers to secure upward of $60 million in coverage.
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