Lloyd's To Phase In 'Silent' Cyber-Cover Guard By July 2021
Law360, London (January 30, 2020, 2:05 PM GMT) -- Lloyd's of London has set out plans to introduce wording that will allow insurers in its market to be clear about whether their products cover cyberattack, in an attempt to protect the sector against "silent" policies.
The specialty market said Wednesday that insurers must pen wording into new and existing policies that either exclude cyber-cover or explicitly include the insurance in three stages between this July and July 2021. The move will provide clarity for policyholders, brokers and its syndicates, Lloyd's said.
The Prudential Regulation Authority told insurers in 2019 to avoid exposing themselves to the risk of accidentally covering a policyholder...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!