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DTSTAMP:20260426T193535Z
DTSTART:20230418T131500Z
DTEND:20230418T134500Z
SUMMARY:The new Lloyd’s Market Association (LMA) cyberwar exclusions and 
 latest developments
DESCRIPTION:This session will review how the cyber insurance market has b
 een working to address the ever-changing geopolitical landscape and incr
 eased systemic risk of a large-scale state-sponsored cyberattack resulti
 ng in catastrophic consequences to the world economy. In January 2023\, 
 the Lloyd’s Market Association (LMA) updated and replaced a number of it
 s previous cyberwar exclusion clauses concerning the involvement of stat
 e-sponsored cyberattacks and other cyber operations. The new LMA Cyber W
 ar Exclusions have amended the much-criticised scope of the ‘attribution
 ’ mechanism of state-sponsored cyberattacks in the previous clauses\, an
 d has now focused on ‘major detrimental impact’ on an impacted state as 
 the main trigger for the new cyber perations exclusions to apply. The se
 ssion will also review the latest developments in the Merck litigation i
 n New Jersey arising from the NotPetya cyberattack in 2017. \n
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