GL E-Note 05-05-2023
First Thoughts on the Appellate Decision in the Merck v. Ace War Exclusion Case
Earlier this week, the New Jersey Appellate Division construed a traditional “Hostile/Warlike Action” exclusion in an all-risk property insurance policy. It held the Exclusion did not prevent coverage for massive losses suffered by the pharmaceutical company Merck resulting from the Russian NotPetya cyberattack launched against Ukraine in 2017.
GL partner Vince Vitkowsky analyzed the immediate implications of this case on traditional and cyber insurance in the May 5, 2023 edition of Advisen Cyber FPN. Vince’s analysis is here.