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Zarwin Baum Secures Policy Limits Recovery Under Electronic Risk Policy

November 1, 2013

Tony Twardowski and Philip Magen convinced the Delaware Superior Court that their banking client was insured under the Electronic Risk portion of the bank’s Directors and Officers policy for a data breach occurring at one of the bank’s third party credit card processors. After years of litigation, during which the insurer aggressively defended its coverage declination, the Court was asked to resolve the matter based on cross motions for summary judgment. In its November 1, 2013 Opinion, the Court adopted the arguments and rationale presented by Tony and Phil in their briefs and at oral argument, rejected the insurer’s multiple claimed defenses, and awarded the bank the seven figure limits under its policy.


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