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Instant Insights / October is National Cybersecurity Awareness Month

The COVID-19 pandemic has revealed new cyber threats. Now's the time for insurance professionals and insureds to reexamine cybersecurity strategies and coverage.

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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.

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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)

(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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