Cyber Insurers Owe Nearly $5M in Covered Losses, Lawsuit Alleges

Crash Champions, a collision-repair companies supplier, requested Illinois’ Circuit Courtroom of Prepare dinner County to settle an insurance coverage protection dispute Thursday towards Coalition, a cyber insurance coverage supplier, and a number of other different insurance coverage firms, together with Arch Specialty Insurance coverage and Allianz Underwriters Insurance coverage. The dispute stems from a 2023 cyberattack and the plaintiff’s request for protection beneath its $10 million coverage restrict for $18.1 million in claimed losses.