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Tuesday, January 25, 2022

Ransomware: Insurance Might Pay

And of course will foreign plays admit guilt for hostile actions?  And surely insurance premiums will increase. 

Via Schneier, with further comments:

The insurance company Ace American has to pay for the losses:

On 6th December 2021, the New Jersey Superior Court granted partial summary judgment (attached) in favour of Merck and International Indemnity, declaring that the War or Hostile Acts exclusion was inapplicable to the dispute.

Merck suffered US$1.4 billion in business interruption losses from the Notpetya cyber attack of 2017 which were claimed against “all risks” property re/insurance policies providing coverage for losses resulting from destruction or corruption of computer data and software. ...,, '

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