An example of where precedence is being set for cyber insurance as the Ohio Supreme court rules than Ransomware is not Physical damage.

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An example of where precedence is being set for cyber insurance as the Ohio Supreme court rules than Ransomware is not Physical damage. While this could be seen as an obvious statement, it goes to create more clarity around the cyber insurance debate, as the case centered around cyber insurance. In a long running case between Michigan based owners Insurance Company against greater Dayton medical Billing software maker EMOI.

EMOI suffered a Ransomware attack in 2019 and their insurance policy covered ‘direct physical loss’ to digital media.

Software is an intangible item that cannot experience direct physical loss, wrote Justice Melody J. Stewart.

Ted Dziekanowski Gerry Kennedy

#cyberinsurance #cybersecurity #cyberriskmanagement #theaugustagroup

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