Sony’s own insurance Company, Zurich appears to have pulled the plug on the Japanese consumer electronics Company following the recent PSP hack attack.
Late on Friday, Zurich American Insurance asked a US court to declare that it does not have to pay to defend Sony against class-action suits related to the PSN security breach.
They said that they do not want to “defend or indemnify Sony against any claims asserted in the class-action lawsuits, miscellaneous claims, or potential future actions instituted by any state attorney general.”
The claim if accepted, could leave Sony exposed with the Company liable for millions in payouts if the class action lawsuites goes against
The incident which Sony executives have said exposed the personal details of 77 million users in April has resulted in several lawsuits against Sony.
The insurer is expected to argue that the general liability cover it provided Sony was never intended to cover cyber attacks.
Sony has said the security breach and subsequent six-week closure of the PlayStation Network will wipe $178m off its profits this year but that it expects its insurers to pay out.
According to papers filed with the court by Zurich American Insurance, Sony already faces 55 class action lawsuits in the United States.
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p >The insurance company has sued Mitsui Sumitomo Insurance, AIG and ACE asking the court to “clarify their responsibilities under policies” written for Sony.
