Lloyd's of London is requiring all of its insurance groups to exclude any liability for losses resulting from state-backed cyber attacks from their cyber insurance policies.
This requirement will become effective as of 31 March 2023, upon the entry into force or renewal of each insurance policy.
Lloyd's decision reflects the rapidly changing cyber insurance market [4].
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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-193-july-2022
[4] https://www.atlas-mag.net/en/category/tags/focus/the-cyber-insurance-market