Good-bye, insurance coverage for nation-state cyber attacks

Last week, Lloyd’s of London Ltd. announced that it will require its underwriters, globally, “to exclude catastrophic state-backed hacks from stand-alone cyber insurance policies” starting in March 2023. This elimination of cyber policies involving nation-state adversaries is not surprising. Based on “worrisome trends” in our post-pandemic world, cybersecurity insurance at large “has a big problem,” as PCS Insurance Group’s Tom Johansmeyer notes in Harvard Business Review.

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