Analysis

Briefing: Cyber clarity move may encourage underwriters to byte

By Jon Guy 2023-03-15T13:27:00

london, cyber (2)

Although the insurance industry may not have the ‘muscle memory’ to react to a major cyber event, Lloyd’s of London’s attempts to clarify cover around state-backed attacks could present opportunities for brokers

For the UK’s regional brokers, events occurring in the Lloyd’s market may seem a world away from the risks they and their clients face in the current economic climate.

However, when Lloyd’s chief of markets - Patrick Tiernan - issued the market’s quarterly update on 9 March 2023, he revealed a new move to deliver clarity on cyber cover.

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