A New Jersey court's recent ruling that Merck & Co.'s property insurers cannot rely on a war-related exclusion to avoid the pharma giant's $1.4 billion losses in a 2017 malware hack may push insurers across the board to rethink their approach to cyberattack coverage.
Merck's 11 insurers have filed a motion for interlocutory appeal to the New Jersey superior court appellate division. On Jan. 21, the American Casualty and Property Insurance Association filed an amicus brief in support of the property carriers' appeal effort.
. . .
"There certainly have been statements over the years that state actors have been behind various cyberattacks," said Dan Healy, a partner at Anderson Kill who represents policyholders. "But that doesn't rise to the level of evidence that the state actor in fact was behind the attack on a particular policyholder."
To read the full article, please click here.