Sony Pictures Entertainment has $60 million worth of cyber insurance with Marsh according to leaked documents provided by the hackers, who are in one way or another related to North Korea. Will this be nearly enough to make up for the losses?
According to the founder of cybersecurity firm SSP Blue, Hemanshu Nigam, “The cost to Sony from new software and hardware, employee labor to clean up the mess, investigation, lost productivity, and reputational damage, just to name a few, is at least over a $100 million and growing daily.”
In response to continued threats from the hackers, Sony Pictures has decided to cancel The Interview, the movie at the center of the controversy, which has cost about $80 million to make and market. Other movies featuring James Franco and Seth Rogan, the two actors staring in the film, have grossed in the hundreds of millions of dollars.