Lloyd's of London to stop covering cyber wars between nation-states

Lloyd's of London has issued four cyber warfare and cyber operations exclusion clauses. The insurer has pledged to no longer cover damage caused by digital warfare between countries and cyber attacks that have a detrimental impact on the functioning of a state.

China, France, Japan, Russia, the United Kingdom and the United States are affected by the new conditions.

This decision comes at a time when insurers are beginning to withdraw from the cyber insurance market. Members of the Lloyd's syndicate are reducing their coverage by about 50% and charging higher rates for cyber risks.

The clauses are available on the website: https://www.lmalloyds.com/LMA/News/LMA_bulletins/LMA_Bulletins/LMA21-042-PD.aspx