WSJ: "Merck’s Insurers On the Hook in $1.4 Billion NotPetya Attack, Court Says"

Insurance - Business Background. Blue Arrow with Insurance Word on a Grey Background.I get the WSJ Cybersecurity newsletter, which by the way is warmly recommended. Kim Nash today reported a shocker which will make everyone's insurance premiums go even further up: "Six years after the worldwide NotPetya cyberattack, a court ruled insurers for Merck & Co. must help cover $1.4 billion in losses. 

New Jersey appellate division judges rejected the insurers' argument that the 2017 attack, which U.S. officials later blamed on Russia, was akin to an act of war normally excluded from coverage.

RELATED READING: [ALERT] NotPetya Is a Cyber Weapon, Not Ransomware

“The exclusion of damages caused by hostile or warlike action by a government or sovereign power in times of war or peace requires the involvement of military action,” the judges wrote. “Coverage could only be excluded here if we stretched the meaning of ‘hostile’ to its outer limit.” Read WSJ Pro's full story

You should share this story with your infosec budget holders. 

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