High-End Jeweler Sues Insurer Over $9M Cyber-Ransom | #cybersecurity | #cyberattack

By Silvia Martelli (June 29, 2022, 6:10 PM BST) — A luxury British jeweler has sued a Lloyd’s syndicate member to recover $9 million it spent after falling victim to a Russian ransomware attack that prompted press coverage of leaked celebrity clients and a rare apology from the hackers.

Graff Diamonds Ltd. told the High Court in a June 13 claim, which has now been made public, that F&G UK Underwriters Ltd. had breached its policy by refusing to cover $7.5 million the jewelry company spent on a ransom payment, as well as $1.5 million in related costs.

The episode made headlines for the celebrities reportedly named in the leaks —…

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