It has been reported that Lloyd’s of London has instructed its members to exclude nation state cyber attacks from insurance policies beginning in 2023, saying they pose unacceptable levels of risk. Insurance market Lloyd’s of London has indicated that it will move to require its insurance groups to exclude “catastrophic” nation state cyber attacks from cyber insurance policies from 31 March 2023. The change will supposedly ensure that the scope of cyber insurance policies is made clear to buyers, and is being made because Lloyd’s believes the impact of state-backed attacks is a “systemic risk”.
Full story here: https://www.wsj.com/articles/lloyds-to-exclude-catastrophic-nation-backed-cyberattacks-from-insurance-coverage-11660861586
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