THE RUSSIAN INVASION OF UKRAINE, WORLDWIDE CYBERATTACKS, AND WAR EXCLUSIONS IN PROPERTY AND CASUALTY INSURANCE POLICIES
Other - Law Firms | 03/23/2022The Russian invasion of Ukraine may result in cyberattacks causing widespread and severe losses, in those nations and beyond. Even before the current invasion, some Russian cyberattacks aimed at Ukraine spread to other nations. The most prominent of these was the NotPetya attack in 2017. NotPetya was the name given to a strain of one of the most destructive types of malware, known as “Wiper” malware, which is designed to functionally destroy computers by wiping their contents completely. It was designed to spread to other computer networks, and did. It caused an estimated $10 billion in losses throughout the world. (NotPetya will be discussed in greater detail later in this paper.)
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