Trump says it's not a 'war.' Insurers with money on the line say it is
The article discusses the complexities of cyber insurance in relation to war exclusions. Insurers face challenges in proving that cyber attacks qualify as acts of war, especially when state actors use proxies. Additionally, marine insurance has clearer war risk exclusions, but limitations still apply, particularly among major world powers.
- ▪Cyber insurance policies often include war exclusions, but these clauses vary significantly.
- ▪Insurers must prove that a cyber attack was conducted by a sovereign government to deny claims based on war exclusions.
- ▪Marine insurance has explicit war risk coverage, but companies must purchase separate policies for those risks.
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That burden of proof is especially high in cyber insurance.Nearly every cyber policy includes some form of war exclusion, but those clauses vary widely. Many also contain carve-backs that preserve coverage for cyber terrorism — attacks carried out to advance financial, ideological, religious or political objectives — even when war-related language is present.Insurers looking to deny a claim because of war exclusions, typically must demonstrate that an attack was carried out by a sovereign government or under its direction or control.
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