Mondelez sues Zurich over $100m cyberhack insurance claim

[InfoSec News <alerts () infosecnews org>]

https://www.irishtimes.com/business/technology/mondelez-sues-zurich-over-100m-cyberhack-insurance-claim-1.3753475

The Irish Times
January 10, 2019

Mondelez, the US food company that owns the Oreo and Cadbury brands, is suing 
its insurance company, Zurich, for refusing to pay out on a $100 million claim 
for damage caused by the NotPetya cyberattack.

The case will be the first serious legal dispute over how companies can recover 
the costs of a cyberattack, as insurance groups seek to tightly define their 
liabilities.

"It's a pretty big deal. I’ve never seen an insurance company take this 
position," said Robert Stines, a cyberlaw specialist at the US law firm 
Freeborn. "It's going to send ripples through the insurance industry. Major 
companies are going to rethink what's in their policies."

The NotPetya attack in the summer of 2017 crippled the computer systems of 
companies around the world, including Merck, the pharmaceuticals company, 
Reckitt Benckiser, the consumer group, and Maersk, the world's largest shipping 
group.

[...]

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