The cost to businesses and insurers of a single global ransomware attack could hit $193 billion, according to a 2019 report from a group that includes Lloyd's of London. (Photo: Fotolia) Merck cyberattack's $1.3 billion question: Was it an act of war?
Merck was stunned when most of its insurers denied cyber coverage. Why? Because its policies excluded another risk: an act of war.
December 05, 2019 at 11:53 AM
19 minute read
The original version of this story was published on Law.com
(Bloomberg Markets) — By the time Deb Dellapena arrived for work at Merck & Co.'s 90-acre campus north of Philadelphia, there was a handwritten sign on the door: The computers are down.
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