Analysis

Ransomware Victims' Coverage Hopes Surge With Ind. Ruling

Law360 (March 22, 2021, 10:16 PM EDT) -- Indiana's highest court recently revived an oil company's lawsuit seeking to force its crime insurance carrier to cover bitcoin ransom payments made to a hacker, a novel ruling that signals businesses may be able to secure ransomware attack coverage under traditional policies that don't explicitly cover such incidents.

A unanimous Indiana Supreme Court on March 18 reversed a lower court's ruling that Continental Western Insurance Co. doesn't have to cover a series of bitcoin ransom payments that policyholder G&G Oil Co. made to a hacker to restore access to the company's computer systems. The decision was the first by a state...

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