5 years ago
Microsoft Insurer Loses Bid To Recoup $175M from Xbox Chipmaker Hit by Fire
Microsoft Corp.’s captive insurer has lost its bid to recover $175 million in costs the software maker said it incurred in 2013 to replace memory chips that a manufacturer failed to deliver because of a fire at the chipmaker’s plant in China. Cypress Insurance Co., the Arizona captive insurer of Microsoft, had sought to recoup $175 million related to business interruption after a fire at the SK Hynix manufacturing complex in Wuxi, China forced a halt in the production of memory chips for its Xbox One.
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