An Act of War- Does This Affect Your Cyber Security Insurance?

I attended an event recently and was seated next to an Insurance executive.

I asked the question- “Does your company offer Cyber Security insurance?” He smiled and said “yes- but we are now writing in an exclusion for coverage”. He then went on to explain that if the cyber attack was caused by a ‘nation state’, it would not be covered. After review- ‘we consider this an Act of War”.

The TDoS attacks in South Florida (and other areas of the country) could be labeled many things- including a terrorist attack (it originated overseas) which is impacting the ‘Availability’ of critical infrastructure to the public.

The insurance executive also shared that the number of attacks on both business and government clients ‘seems to be increasing’. No real news there..