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Sony insurers looking to bail before possible lawsuits from PSN hack

Current estimates put the recent PSN hack damages in the range of 100’s of millions of dollars. Sony which has insurers in place to cover these types of things, but those insurers are looking to bail on the electronics maker.

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Sony insurers looking to bail before possible lawsuits from PSN hack

by on July 22, 2011

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Current estimates put the recent PSN hack damages in the range of 100’s of millions of dollars.  Sony which has insurers in place to cover these types of things, but those insurers are looking to bail on the electronics maker.  The insurers believe that they shouldn’t be held responsible for the claims that are likely to arise from class-action lawsuits or other large payouts that might be looming in the future.  The cases could be costly for the PlayStation 3 maker, Sony is currently facing over 50 class action lawsuits.

Current estimates internally from Sony are stating that the hack could cost over 170 million dollars at this point.  It  is said that Sony is seeking new insurance coverage to help pay these potential damages.

The now infamous PlayStation Network downtime of 2011, not only stopped the network community from playing games, there was also a security threat in which millions of customers personal and private information was secured illegally in the network breach.  It looks like there are some serious real world implications that Sony will be facing in the coming months and years.

Source: Gamasutra

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