Haynes Boone Counsel Kate Repko spoke with Healthcare Info Security after medical technology manufacturer Stryker notified investors that its March 11 cyberattack will have an impact on first quarter results. Thecompany does not appear to have a cyber insurance policy in place to potentially cover costs associated with the attack.
Read an excerpt below.
Cyber insurance can include coverage for business interruption, Repko. It's possible that other policies also do so, such as commercial general liability, directors and officers, and property coverage, she added.
Stryker does face a growing stack of proposed class action lawsuits involving the incident (see: Stryker Wiper Attack Hackers Boast As Lawsuits Pile Up).
"Depending upon the nature of the class action allegations, coverage could be triggered under cyber or management liability policies, such as directors and officers" insurance, Repko said.
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