Underwriters Concerned Over 'Silent' Cyber-Cover

Law360, London (September 28, 2020, 2:02 PM BST) -- Underwriters fear that boilerplate policies are still accidentally offering cover against the threat of cybercrime and want regulators to take action, a global report on insurance against cyberattacks published on Monday has found.

Partner Re, a Bermuda-based reinsurer, found in a report that two in three underwriters, or 65%, are concerned about so-called silent cyber-insurance — in which a standard business policy can be interpreted to include losses arising from a cyberattack, even though the insurer had not intended it to do so.

"Silent cyber-issues remain a chief cause of concern for underwriters," the report said.

The problem of so-called silent cover is attracting...

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