BUZZ-Hiscox: Hackers hold data ransom

** Hiscox (Swiss: 27373019.SW - news) shares -3.7 pct after hacker/hacking group "The Dark Overlord" claim to have stolen 18,000 files from UK insurance cos involved in litigation for the 9/11 attacks in New (KOSDAQ: 160550.KQ - news) York

** The Times reports https://www.thetimes.co.uk/article/hackers-hold-9-11-insurers-to-ransom-7c886kvhq hack claims, including the demand for an undisclosed sum in bitcoin

** FT reports https://www.ft.com/content/b39a8526-0eb2-11e9-a3aa-118c761d2745 the hacker or hackers claimed they took emails and non-disclosure agreements relating to the 9/11 attacks that were sent and received by Hiscox, Lloyd's of London and law firm Husch Blackwell

** Traders say these reports are hurting Hiscox shares, but traded volumes are thin

** "The Dark Overlord" claims hack in a blog post on Pastebin. The page is no longer available

** Hiscox confirms https://www.hiscoxgroup.com/news/press-releases/2018/31-12-18 U.S. law firm that advised co, some of its commercial policyholders and other insurers, had experienced a data breach in which information was stolen

** Hiscox says law firm's systems not connected to co's IT infrastructure and Hiscox's own systems unaffected

** "One of the cases the law firm handled for Hiscox and other insurers related to subrogation litigation arising from the events of 9/11, and we believe that information relating to this was stolen during that breach," Hiscox spokeswoman says

** "Once Hiscox was made aware of the law firm's data breach, it took action and informed policyholders as required. We will continue to work with law enforcement in both the UK and U.S. on this matter."

** London is a leading centre for insuring businesses and properties against catastrophes, mainly through the Lloyd’s of London market

** 9/11 attacks had insurance losses of $40 billion (Reporting by Noor Zainab Hussain in Bengaluru and Helen Reid in London)