December 4, 2019 11:15 AM EST

Merck in $1.3B showdown with insurers over 2017 ransomware attack — Bloomberg

Jason Mast

Editor

When Merck was hit with a ransomware attack in 2017, the pharma giant was in fact just collateral damage from a virus Russia aimed at Ukraine, and the company is struggling to recoup its losses because its $1.75 billion insurance plan doesn’t cover acts of war.

Those are details from a richly reported Bloomberg News story out yesterday exploring how a geopolitical fight in Eastern Europe accidentally entangled a New Jersey-based pharmaceutical company and sparked lawsuits with major ramifications for the future of insurance and cybercrime.

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Merck in $1.3B showdown with insurers over 2017 ransomware attack — Bloomberg

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