News

Property and cyber markets must get on same page to prevent cover ‘gap’ for cyber-related physical losses

By 2023-02-08T11:16:00

burning keyboard, cyber, property, fire

Confusion around cyber exclusions may have stemmed from Lloyd’s clampdown on clearly defining physical and intangible risks

The “relationship between the property and cyber [insurance markets] needs to become better”, especially as a 2019 mandate from Lloyd’s may have contributed to a “gap in the market” around covering physical losses that result from a cyber attack, according to senior cyber insurance experts.

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