CyberSecurityBoard
Sponsor Register Login

Merck settles with insurers regarding a $1.4 billion claim

We and our store and/or access information on a device, such as cookies and process personal data, such as unique identifiers and standard information sent by a device for personalised ads and content, ad and content measurement, and audience insights, as well as to develop and improve products.
With your permission we and our partners may use precise geolocation data and identification through device scanning.
You may click to consent to our and our 748 partners' processing as described above.
Alternatively you may access more detailed information and change your preferences before consenting or to refuse consenting.
Please note that some processing of your personal data may not require your consent, but you have a right to object to such processing.


This Cyber News was published on securityaffairs.com. Publication date: Sat, 06 Jan 2024 18:13:04 +0000


Cyber News related to Merck settles with insurers regarding a $1.4 billion claim

Merck Settles NotPetya Insurance Claim, Leaving Cyberwar Definition Unresolved - A legal definition of cyberwar and its relationship with kinetic war has been avoided by a settlement between Merck and its insurers over damage caused by NotPetya. Merck had lodged an insurance claim for $1.4 billion for damage caused by the ...
1 year ago Securityweek.com
War or Cost of Doing Business? Cyber Insurers Hashing Out Exclusions - Drugmaker Merck's long legal battle with its insurance companies over the damages caused to its business by the NotPetya wiper worm ended last week when the company settled with a bevy of insurance companies that had refused to pay $699 million of ...
1 year ago Darkreading.com
Why CISOs Need to Make Cyber Insurers Their Partners - Organizations may perceive the lengthy and involved process, paired with rising premiums, as insurance companies taking advantage of them. Insurance companies are struggling to balance soaring loss ratios that were particularly rampant a couple years ...
1 year ago Darkreading.com
Merck Settles With Insurers Over $700m NotPetya Claim - Merck has finally reached a settlement with its insurers after they had refused to pay out following the NotPetya campaign due to a cyber-warfare policy exclusion. The pharmaceuticals giant claimed it was entitled to around $700m from its carriers ...
1 year ago Infosecurity-magazine.com
Cyber Insights 2023: Cyberinsurance - The result is more than a dozen features on subjects ranging from AI, quantum encryption, and attack surface management to venture capital, regulations, and criminal gangs. In 2022, Russia invaded Ukraine with the potential for more serious and more ...
2 years ago Securityweek.com
Takeaways from Cisco at InsureTech Connect 2023 - InsureTech Connect 2023, the premier conference for the insurance technology industry, brought together 9,000+ innovators, leaders, and solution providers to Las Vegas in early November to explore the latest trends, technologies, and disruptions in ...
1 year ago Feedpress.me
Merck settles with insurers who denied $700 million NotPetya claim - Pharmaceutical giant Merck has reportedly reached a settlement with insurers over their refusals to cover losses stemming from the NotPetya cyberattack in 2017. In early 2022, a New Jersey court ruled that the warfare exemption did not apply to the ...
1 year ago Therecord.media
Avoid high cyber insurance costs by improving Active Directory security - Insurance broker and risk advisor Marsh revealed that US cyber insurance premiums rose by an average of 11% in the first quarter of 2023, and Delinea reported that 67% of survey respondents said their cyber insurance costs increased between 50% and ...
1 year ago Bleepingcomputer.com
Merck settles with insurers regarding a $1.4 billion claim - We and our store and/or access information on a device, such as cookies and process personal data, such as unique identifiers and standard information sent by a device for personalised ads and content, ad and content measurement, and audience ...
1 year ago Securityaffairs.com
Essential Tips for Claiming Cyber Insurance Coverage - In an era dominated by digital transactions and interconnected networks, the importance of cyber insurance cannot be overstated. Cybersecurity threats loom large, making it crucial for businesses to not only invest in robust preventive measures but ...
1 year ago Cybersecurity-insiders.com
Israel $3.2bn Grant For Intel's $25 Billion Chip Factory - Intel to make its largest ever single investment in Israel, with a $25 billion chip-making factory in the south of the country. Intel and the Israeli government have confirmed plans to construct a $25 billion chip-making factory in Southern Israel. ...
1 year ago Silicon.co.uk
Microsoft Invests €4.3 Billion In Italy For AI, Cloud | Silicon UK - Microsoft said that it’s data centre expansion in Northern Italy coupled with its commitment to provide extensive AI skills training, supports the rising demand for AI compute and cloud services across Italy as organisations look to boost ...
1 year ago Silicon.co.uk
US To Invest $5 Billion In Semiconductor Research - White House confirms $5 billion from US Chips and Science Act will be used for semiconductor research and development. The Biden Administration has confirmed that the United States is setting aside billions of dollars for semiconductor-related ...
1 year ago Silicon.co.uk
Oracle Invest $.6.5 Billion In Malaysia To Expand Cloud | Silicon UK - Rivals including Microsoft, AWS, Nvidia, Google and China’s ByteDance have announced billions of dollars worth of digital investments into Malaysia since last year, centring around cloud and data centres. Oracle announced on Wednesday that it ...
1 year ago Silicon.co.uk
Meet Your New Cybersecurity Auditor: Your Insurer - As businesses deal with the fallout of massive ransomware waves, from Lapsus$ to Cl0p/MOVEit, an unlikely new entity is joining the regulatory bodies to raise the bar for cybersecurity: the cyber insurer. Their coverage requirements and ...
1 year ago Darkreading.com LAPSUS$
Reducing Cyber Insurance Costs - CISO Proactive Measures - By taking a proactive, strategic approach to security that addresses insurer requirements while advancing business objectives, CISOs can effectively reduce cyber insurance costs while strengthening their organization’s security posture. ...
5 months ago Cybersecuritynews.com
British retailer M&S reportedly set to claim £100 million from insurers after cyberattack | The Record from Recorded Future News - As first reported by the Financial Times newspaper, the attack driving the insurance claim may have cost M&S more than £60 million (about $79.7 million) to date based just on the loss of its daily online sales. Although the estimate can’t ...
4 months ago Therecord.media Dragonforce
Chainalysis: $2.17 billion in crypto stolen in first half of 2025, driven by North Korean hacks | The Record from Recorded Future News - The $2.17 billion stolen so far this year already surpasses the losses seen in all of 2024, and is the highest number seen in the first six months of a year since the company began tracking the figures in 2022. Chainalysis researchers noted several ...
2 months ago Therecord.media
Identity Theft Surges as Criminals Deploy Advanced Tactics to Steal Personal Data - The U.S. Government Accountability Office estimates that synthetic identity fraud cost financial institutions $20 billion in 2024, up from $6 billion in 2016. Synthetic identity fraud, which combines stolen Social Security numbers with fabricated ...
4 months ago Cybersecuritynews.com
Major cyber attack could cost the world $3.5 trillion -Lloyd's of London - LONDON, Oct 18 - A major cyber attack on a financial services payments system could lead to global losses of $3.5 trillion, with much of it not covered by insurance, commercial insurance market Lloyd's of London said on Wednesday. The United States ...
1 year ago Reuters.com
Most Advanced iPhone Exploit Ever, Google's $5 Billion Settlement, Apple's Journal App - In this episode, we discuss the most sophisticated iPhone exploit ever, Google's agreement to settle a $5 billion lawsuit about tracking users in 'incognito' mode, and a new iOS app, Journal. The iPhone exploit, known as Operation Triangulation, has ...
1 year ago Securityboulevard.com
SecurityWeek Analysis: Over 450 Cybersecurity M&A Deals Announced in 2022 - MSSPs took the lead in cybersecurity M&A in 2022 with twice as many deals as in 2021. An analysis conducted by SecurityWeek shows that more than 450 cybersecurity-related mergers and acquisitions were announced in 2022. In 2022, we tracked a total of ...
2 years ago Securityweek.com
Hackers Stole Cryptocurrency Worth $2 Billion in Year 2023 - As per crypto security firms, this was the first time since 2020, that the trend has been declining. Based on dozens of cyberattacks and thefts this year, hackers stole over $2 billion in cryptocurrency, according to De.FI, the web3 security company ...
1 year ago Cysecurity.news Lazarus Group
Rivian Up To $5 Billion Investment From Volkswagen - Rivian has entered into a joint venture with Volkswagen, which will see the German car giant invest billions of dollars into the electric vehicle firm. In the equally controlled and owned joint venture, Volkswagen will invest an initial $1 billion in ...
1 year ago Silicon.co.uk

Latest Cyber News


Cyber Trends (last 7 days)


Trending Cyber News (last 7 days)