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Merck settles with insurers regarding a $1.4 billion claim over NotPetya damages

Security Affairs

Merck has resolved a dispute with insurers regarding a $1.4 Merck and its insurers have agreed with a $1.4 known as Merck Sharp & Dohme (MSD) outside the United States and Canada, is an American multinational pharmaceutical company. billion insurance claim for the losses caused by the NotPetya attack that took place in 2017.

Insurance 115
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Episode 158: How NotPetya has Insurers grappling with Systemic Cyber Risk

The Security Ledger

We talk to Bruce McDonnell of the East West Institute about how insurers are responding. Related Stories Episode 155: Disinformation is a Cyber Weapon and APTs warm to Mobile Malware Podcast Episode 117: Insurance Industry Confronts Silent Cyber Risk, Converged Threats NotPetya Horror Story Highlights Need for Holistic Security.

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CNIL Unveils 2017 Inspection Program and 2016 Annual Activity Report

Hunton Privacy

On March 28, 2017, the French Data Protection Authority (“CNIL”) published its Annual Activity Report for 2016 (the “Report”) and released its annual inspection program for 2017.

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BEST PRACTICES: Rising complexities of provisioning identities has pushed ‘IGA’ to the fore

The Last Watchdog

SailPoint, which went public in November 2017, has grown to more than 1000 employees in 30 locations. Today IGA tools and services are continually getting better at recognizing authorized users, be they human or not, and granting access in more granular ways. Compliance matters. As complexity has intensified, so have compliance challenges.

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A Cyber Insurance Backstop

Schneier on Security

In the first week of January, the pharmaceutical giant Merck quietly settled its years-long lawsuit over whether or not its property and casualty insurers would cover a $700 million claim filed after the devastating NotPetya cyberattack in 2017. The 9/11 attacks cost insurers and reinsurers $47 billion.

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The hidden threats facing your intellectual property

IT Governance

For life sciences and pharmaceutical companies, this includes data on the development and testing of new therapies and details of how therapies are manufactured. In the 2017 WannaCry attack, for example, cyber criminals used ransomware to prevent victims from accessing their IP unless a ransom was paid. The risk of losing your IP.

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Regulatory Update: NAIC Summer 2018 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2018 National Meeting in Boston, Massachusetts, from August 4 to 7, 2018. NAIC Continues its Evaluation of Insurers’ Use of Big Data . The NAIC is also considering insurers’ use of big data in underwriting life insurance products.