Sony has a $60 million Cyber Insurance policy
Sony Pictures Entertainment holds $60 million in Cyber insurance with Marsh, according to documents leaked by the group claiming responsibility for the attack on the movie studio.
The documents, covered in detail by Steve Ragan at CSO, say that after sonypictures.com was breached in 2011, Sony made a claim of $1.6 million with Hiscox, its Cyber provider at the time. The insurer declined to quote at renewal, so Sony Pictures turned to Lockton, which brokered a $20 million policy that included $10 million in self-insured retention.
Around April 1 of this year, Sony moved its Cyber policy to AIG, when it acquired $10 million in coverage. This policy, effective until April 1, 2015, overlaps with its existing coverage, Ragan writes. In May, the movie studio turned to a new insurance broker, Marsh, which reached out to Brit Insurance, Liberty International Underwriters, Beazley and other carriers to secure upward of $60 million in coverage.
Policy details say that the studio consolidated coverage with Sony Corporation of America, with a $5 million retention at an annual cost of $356,963. The policy includes security and privacy liability coverage, as well as event management, network interruption, cyber extortion and regulatory action.
Apple customers in the US and Canada can now buy the film for $14.99 via Apple’s digital media store, a move that at least extends the devices that you can watch it on to iOS, Apple TV and OSX. Other places it can be viewed or bought include Sony’s own site, YouTube, Xbox and Google Play.
Now the hackers who compromised Sony Pictures Entertainment’s servers, are releasing private files and emails to the public which detailed everything from the personal, financial and medical data of present and past employees and much more, are now threatening a “news media organization,” according to a new report. That organization may be CNN, based on information posted on anonymous sharing site Pastebin.
The Intercept today published a join memo from the FBI and the Department of Homeland Security it obtained which says the hacking group, known as the “Guardians of Peace,” have threatened to attack a U.S. new media organization, and the threat “may extend to other such organizations in the near future.”
The memo doesn’t state the news media organization by name, but instead references Pastebin messages that taunt both the FBI and “USPER2,” which is how the FBI’s memo referenced the news media organization. The memo only mentioned the news organization was mocked for the “‘quality’ of their investigations,” and an additional threat was implied.
PropertyCasualty360: http://nyti.ms/1w0Bqv4
TechCrunch: http://tcrn.ch/1OKZQ5Z
TechCrunch: http://tcrn.ch/1YxmV6B
