Judge: No Coverage Owed For Insured’s Alleged $1M Loss Arising From Data Theft

( January 6, 2025, 12:13 PM EST) -- HOUSTON — A federal judge in Texas granted a businessowners insurer’s motion for summary judgment in its website and marketing company insured’s lawsuit seeking coverage for its nearly $1 million in lost revenue due to theft of its intellectual property by employees, finding that no coverage is owed because the insured did not sustain direct physical damage to its covered property....