Biba 2021: Unintended consequences from silent cyber 'knee jerk' reaction

Cyber

Insurers have embarked on a silent cyber crackdown since a January 2019 Prudential Regulation Authority letter that warned that they must do more to understand and eradicate the risk, which occurs where policies may inadvertently provide cover for cyber losses.

Following this regulatory pressure, Lloyd’s mandated that from January 2020 its market participants must ensure that first-party property damage policies either state that they exclude cyber losses or declare that they are covered.

Gaps

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: