Are war exclusion clauses fit for purpose under International Humanitarian Law as cyber-attacks?
When UK and US said it was Russia, they weren’t thinking of the litigators!
Among the victims was US food giant Mondelez – the parent firm of Oreo cookies and Cadburys chocolate – which is now suing insurance company Zurich American for denying a £76m claim filed in October 2018, a year after the NotPetya attack. According to the firm, the malware rendered 1,700 of its servers and 24,000 of its laptops permanently dysfunctional.In January, Zurich rejected the claim, simply referring to a single policy exclusion which does not cover “hostile or warlike action in time of peace or war” by “government or sovereign power; the military, naval, or air force; or agent or authority”.
What Does Cyber-Insurance Really Bring to the Table and…Are You Covered?
Cyber Insurance – an essential part of the risk mitigation strategy?
