Insurers have tried to avoid paying claims related to Russia’s NotPetya cyber attacks on Ukrainian targets.
“Now, however, it’s increasingly clear insurers aren’t off the hook for NotPetya payouts or from covering losses from other attacks with clear links to nation-state hackers…”
“’We’re going to need to rethink what act of war means in cyberspace when it comes to insurance,” said (James Lewis, director of the Strategic Technologies Program at the Center for Strategic and International StudiesLewis). ‘The current definitions come out of the 19th century when we had pirates, navies and privateers.'”
Source: Insurance giant settles NotPetya lawsuit, signaling cyber insurance shakeup