GEOPOLITICAL conflicts from Europe to the Middle East are prompting companies to reread the fine print on insurance policies that deny coverage for wartime cyberattacks, according to DataBreaches[.]Net summarising Angus Loten. Act-of-war exclusions—found in homeowners, life and travel insurance—are largely untested in the cyber market, leaving coverage terms ill-defined, ambiguous and open to interpretation, insurance industry lawyers and brokers say.
Cyberwarfare is outpacing policy language, said Emily Selck, senior director and national practice leader for cyber at the Baldwin Group, highlighting how most companies don’t realise how their coverage responds until it’s tested in real time. The piece notes that the line between cybercrime and nation-state warfare is unclear, complicating the assessment of when an incident is covered or excluded. Read more at WSJ.