Analysis: Merck cyberattack could cost insurers $275M

Insurers could pay $275 million to cover the insured portion of drugmaker Merck's losses from the NotPetya cyberattack, which struck companies across the globe in June, according to Reuters.

The figure comes from a forecast by Verisk Analytics's Property Claim Services unit.

Merck has not yet disclosed the magnitude of its damages, but Claire Gillespie, a company spokeswoman, said Merck has insurance that would cover some costs, according to Reuters.

“Merck has not yet fully quantified its losses, much less given any of its insurers an estimate of the total amount of those losses,” Ms. Gillespie said in a statement to Reuters. However, the company declined to estimate how much it expects to pay on its own.

In July, the drugmaker confirmed a malware attack, dubbed NotPetya, halted its manufacturing operations and possibly caused drug delays.

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