Security News > 2022 > August > Lloyd's to exclude certain nation-state attacks from cyber insurance policies

Lloyd's of London insurance policies will stop covering losses from certain nation-state cyber attacks and those that happen during wars, beginning in seven months' time.

Because of this, all standalone cyber attack policies must include "a suitable clause excluding liability for losses arising from any state-backed cyberattack," Chaudhry wrote.

They must also at least exclude losses from nation-state cyber attacks that "Significantly impair the ability of a state to function or that significantly impair the security capabilities of a state."

Policies must also "Set out a robust basis" on which to attribute state-sponsored cyber attacks, according to Chaudhry - and therein lies the rub.

"Attacks aren't just nation-state or not," Google Threat Analysis Group senior director Shane Huntley told The Register.

As the cost of cyber attacks continues to climb, insurers are being forced to find ways to limit their risk or else go out of business, which is a scenario that Lloyd's faced down in the late 1980s and early 1990s.

News URL

https://go.theregister.com/feed/www.theregister.com/2022/08/24/lloyds_cybersecurity_insurance/