In 2017, Mondelez, the parent company of Oreo, faced a massive cyber attack known as NotPetya. This attack disrupted their operations and caused significant damage to their IT infrastructure.
Mondelez filed an insurance claim under their policy that covered losses due to acts of war. However, their insurance company denied the claim, arguing that the NotPetya attack did not qualify as an act of war.
After years of legal battles, Mondelez has finally reached a settlement with their insurance company. The terms of the settlement are confidential, but it is believed that Mondelez will receive compensation for the damages caused by the cyber attack.
The NotPetya attack disrupted Mondelezs production facilities, distribution networks, and sales operations, leading to significant financial losses. The company had to halt production in several countries and implement costly recovery measures to restore their IT systems.
The settlement with the insurance company provides some relief to Mondelez in terms of recovering the financial losses incurred due to the NotPetya attack. It also sets a precedent for other companies facing similar cyber threats to pursue insurance claims to mitigate the impact of cyber attacks.
Mondelezs experience with the NotPetya attack highlights the importance of having comprehensive cybersecurity measures in place to prevent and mitigate the impact of cyber attacks. It also underscores the need for companies to carefully review their insurance policies to ensure coverage for potential cyber threats.
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Mondelez settles NotPetya insurance suit.