Chubb Unit Aims to Dodge Judgment in Cybersecurity Breach Suit

A Chubb Ltd. insurance unit is seeking to avoid paying a nearly $4 million judgment against an IT services company that was sued over a cybersecurity breach.

The judgment fell under an exclusion in the insurance policy for claims alleging breach of contract and fraudulent misrepresentation, ACE American Insurance Co. said in a complaint filed Friday in the US District Court for the District of Colorado.

Denver-based Verticomm, also known as All Copy Products Inc., provided IT services to Considine Investment Co. at the time of a 2021 email breach that transferred large sums of money to the intruder’s account. ...