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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. 11, 2001, terrorist attacks.

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'Act of War' Clause Could Nix Cyber Insurance Payouts

Dark Reading

The indictment of six members of the Russian military for the NotPetya ransomware attack places companies on notice that insurance "is not a get-out-of-jail-free card."

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Cybersecurity Insurance Not Paying for NotPetya Losses

Schneier on Security

This will complicate things: To complicate matters, having cyber insurance might not cover everyone's losses. Zurich American Insurance Company refused to pay out a $100 million claim from Mondelez, saying that since the U.S.

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Security Affairs newsletter Round 460 by Pierluigi Paganini – INTERNATIONAL EDITION

Security Affairs

Iran Crisis Russia-Aligned TAG-70 Targets European Government and Military Mail Servers in New Espionage Campaign U.S.

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A massive DDoS attack took down the site of the German financial agency BaFin

Security Affairs

It is not clear who is behind the DDoS attack, but the media speculate that it was launched by pro-Russian hacktivists in response to the German financial and military support to Ukraine. The BaFin is responsible for overseeing banks, insurance companies, investment firms, and other financial institutions.

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Pentagon’s Warning on DNA Testing is Applicable to all Consumers

ARMA International

On December 23, Yahoo News [1] reported on a Department of Defense memo [2] warning military personnel that using direct-to-consumer (DTC) DNA testing could pose “personal and operational risks.” In other words, the Pentagon is concerned about hostile entities using such biometric data to better surveil and track the military.

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Driving Conversations Around Careers In Telematics

Information Governance Perspectives

John Danenberger, CPCU, is Corporate Counsel at State Farm Insurance and specializes in addressing emerging issues around telematics. In 2015, he successfully transitioned from a military career as a trial attorney for the JAG Corps to working in telematics in corporate America for State Farm Insurance.