Judge Says Insurance Company Must Help Customer After Ransomware Attack
A US federal judge in Maryland has ordered State Auto Property & Casualty Insurance to cover the costs one of its customers incurred as the result of a ransomware attack. National Ink & Stitch had sought $310,000 in damages from the State Auto following the late 2016 attack that forced the screen printing company to replace its computer system.
Good to see some rulings being made to serve as case law that may force cyber insurance policies to pay up more often. Sadly, a very likely outcome is insurance carriers changing the wording of their policies to make sure this ruling doesn't apply. Buyers' legal counsel review of all policy terms is very important.