Insurers “run risk” of relying on government cyber warfare declarations

“If you’re going to rely on government declarations, then you run a risk of it being subject to political motivation.”

Lloyd’s set out in August that, from the end of March 2023, its managing agents will have to ensure that war exclusions are up to date where it comes to cyber policies.

In a market bulletin, Lloyd’s said it would be “satisfied” firms had met this criteria through the use of any of the four cyber war exclusion clauses drafted by the Lloyd’s Market Association, though they are not required to use one of these clauses if they have another

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