This session will review how the cyber insurance market has been working to address the ever-changing geopolitical landscape and increased systemic risk of a large-scale state-sponsored cyberattack resulting in catastrophic consequences to the world economy. In January 2023, the Lloyd’s Market Association (LMA) updated and replaced a number of its previous cyberwar exclusion clauses concerning the involvement of state-sponsored cyberattacks and other cyber operations. The new LMA Cyber War Exclusions have amended the much-criticised scope of the ‘attribution’ mechanism of state-sponsored cyberattacks in the previous clauses, and has now focused on ‘major detrimental impact’ on an impacted state as the main trigger for the new cyber perations exclusions to apply. The session will also review the latest developments in the Merck litigation in New Jersey arising from the NotPetya cyberattack in 2017.