Court Refuses to Slice Up CiCi’s Cyber Extortion Coverage

CiCi Enterprises experienced a May 2022 ransomware attack involving encryption and data exfiltration, paid a $400,000 ransom, and incurred about $1.2M in remediation costs; a Texas federal court held that the insurer's Ransomware Event Sublimit Endorsement did not clearly limit coverage to $250,000, producing a legal win for the policyholder.