Home Depot Inc. has a total of $105 million in cyber coverage, with American International Group Inc. providing the first layer of $10 million of primary coverage above its self-insured retention, market sources say.
Above the AIG layer is $10 million each from two Zurich Insurance Group Ltd. U.S. and international units; $15 million from Liberty Mutual Insurance Co.; and $10 million from a unit of Houston-based HCC Insurance Holdings Inc., observers say.
Above that are two $25 million layers of coverage written on a quota share basis, market observers say. Home Depot has a self-insured retention of $7.5 million, according to sources.
Home Depot has $20 million of primary directors and officers liability coverage with Chubb Corp., with at least another $250 million of coverage elsewhere in the market, according to a market source.
A Home Depot spokesman said the company would not comment on its insurance coverage. Spokesmen for AIG and Houston-based HCC declined to comment, and spokesmen for Chubb, Liberty Mutual and Zurich could not immediately be reached for comment.
Atlanta-based Home Depot confirmed earlier this week it has been breached, which it said could potentially affect customers using payment cards in its U.S. and Canadian stores, although there is no evidence that its customers' debit PIN numbers were compromised.
Home Depot said in its announcement that its investigation is focused on “April forward” and that it has taken “'aggressive steps” to address the malware and protect consumer data.