2026-07-20 · Source: Insurance Journal
Summary in 3 Points • Abbott Laboratories investigates cyber incidents at its cancer diagnostics business and LabCentral portal, with no operational impact • LabCentral portal breach involved publicly available documents, with no exposure of sensitive information or customer data • Healthcare cyberattacks have targeted companies like Clover Health, Stryker, Medtronic, Novo Nordisk, and West Pharmaceutical Services --- Abbott Laboratories is currently investigating two separate **cyber incidents** involving unauthorised access to its internal systems at the cancer diagnostics business and the LabCentral portal. The company confirmed on 17 July that these incidents did not affect its operations or other systems, including those of legacy Exact Sciences. The breach at the LabCentral portal, which is hosted by a third party and used by Abbott's core laboratory diagnostics business, did not result in any known exposure of sensitive customer or business information. Abbott has engaged outside **cybersecurity** experts and law enforcement to further investigate the breaches, and it does not anticipate any material impact on its financial results. For the **London Insurance Market**, particularly Lloyd's and its syndicates, the rising trend of cyberattacks on healthcare companies, including Abbott, shows the necessity of **cyber insurance** for this sector. With recent incidents affecting firms such as Clover Health Investments, Stryker, Medtronic, Novo Nordisk, and West Pharmaceutical Services, the demand for comprehensive cyber coverage is likely to increase. London Market insurers, particularly those involved in underwriting healthcare and **technology liability**, may see a rise in inquiries and claims related to cyber incidents. The separation of legacy systems, as seen with Exact Sciences, calls for clear risk assessment and policy wording to address potential vulnerabilities in interconnected systems. **Underwriters** and **brokers** should consider the effects of these incidents on policy limits and exclusions, particularly regarding third-party hosted systems like LabCentral. The lack of sensitive data exposure in Abbott's case suggests that risk managers should focus on evaluating the security measures of external partners and the potential impact of breaches on operational continuity. As healthcare companies increasingly face cyber threats, the London Market may need to adapt its **cybersecurity** offerings to address the unique challenges posed by this industry.
For the London Insurance Market, particularly Lloyd's and its syndicates, the rising trend of cyberattacks on healthcare companies, including Abbott, shows the necessity of cyber insurance for this sector. With recent incidents affecting firms such as Clover Health Investments, Stryker, Medtronic, Novo Nordisk, and West Pharmaceutical Services, the demand for comprehensive cyber coverage is likely to increase. London Market insurers, particularly those involved in underwriting healthcare and technology liability, may see a rise in inquiries and claims related to cyber incidents.