Merck Awarded $1.4B Insurance Payout over NotPetya Attack

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Merck Awarded _1.4B Insurance Payout over NotPetya Attack-01

Unsealed court records show pharmacy giant Merck was awarded $ 1.4 billion last month in real estate insurance, for losing a company that he acquired as a result of the 2017 NotPetya attack.

Merck’s Cyber-insurance insurance company, International Indemnity, claims that losses fall under the release of “War or Terrorist Acts”. This is because in Oct. 2020, U.S. Department of Justice sued six Russian nationals for the attack on NotPetya for allegedly collaborating with Russian military intelligence. Merck’s $ 1.75 billion property insurance policy will need to cover NotPetya’s damage to 40,000 company computers, amounting to more than $ 1.4 billion, according to the court.

The ruling also stipulates that any “ambiguity” in the language of insurance must, for example, be interpreted in order to meet the “reasonable expectations” of the policyholder.

Read More: https://threatpost.com/merck-insurance-payout-notpetya-attack/177872/