* Posts by Blazde

1 post • joined 11 Jan 2019

Cyber-insurance shock: Zurich refuses to foot NotPetya ransomware clean-up bill – and claims it's 'an act of war'

Blazde

Re: Oh yeah

All insurance companies have money set aside for future payouts, it's known as the float and investing it - typically in bonds which pay interest - is a key part of a running an insurance outfit. Having said that I'd be surprised if an eventual payment to Mondelez doesn't include some interest-like compensation for lateness so it's unlikely they're motivated by hanging on to it longer except as a means to reduce the principal amount.

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