Merck settles with insurance companies over $1.4B claim tied to 2017 cyberattack: report

Merck has reportedly settled with insurance companies that contested the pharma giant’s $1.4 billion claim after it was victimized by a crippling cyberattack in 2017.

With the settlement—terms of which were not disclosed—the insurance companies avoided a ruling that would have provided a precedent for other cases involving insurance claims related to other state-led cyberattacks, Bloomberg Law reports.