Paragon Brokers’ Post

Name: Paragon Brokers on LinkedIn: #insurancebroker #cyber #warclause
Uploaded: 2023-08-23T11:00:01.615Z
Channel: Paragon Brokers
Description: 👾 Demystifying the War Clause in cyber insurance policies. In our latest video, William Wright and Lyndsey Bauer sit down to discuss key elements of the war clause and what you need to be aware of. Find out what the guidance says below, or get in contact with our team. #InsuranceBroker #Cyber #WarClause

Paragon Brokers

2,817 followers

👾 Demystifying the War Clause in cyber insurance policies. In our latest video, William Wright and Lyndsey Bauer sit down to discuss key elements of the war clause and what you need to be aware of. Find out what the guidance says below, or get in contact with our team. #InsuranceBroker #Cyber #WarClause

Transcript

Let's start with the guidance. What does the guidance say? So the guidance is actually very simple. It has four points. The first point is that if a policy doesn't exclude war, that it must exclude war, whether war be declared or not. This means if there's a London excess policy but the primary excludes war, no additional war language is required. If the primary language is insufficient with regard to war as a risk, the Lloyd's layers must add an exclusion. If I'm a client and I want to understand. With my assets are covered by this exclusion or not? If there was a war and my assets are in the country where that war occurs? Am I covered? So assets being in a country where there is a war is not sufficient to trigger any of those exclusions. The assets have to be damaged by the war and in that case they would be excluded. It goes on to say a second point, which is that you must exclude certain state sponsored cyber attacks, but that they have to have a very high threshold of damage. You have to exclude state sponsored cyber attacks that either a results in significantly impaired security capabilities of a state. For which reduces the ability of the state to function as a state. By state we mean sovereignty, so pretty high threshold of damage. And then the other points are just to be clear as to the scope and use defined terms and. Also ensure that there is a robust system for establishing whether or not the exclusion can be applied or not. That can usually be accomplished with a strong Disputes resolution clause.

To view or add a comment, sign in

More Relevant Posts

TrustedChoice.com

2,138 followers
7mo
Report this post
In the digital age, spoofing and phishing schemes are commonplace. That's why small and mid-sized commercial business are looking to #independentinsuranceagencies for cyber insurance. Here are some of the cyber insurance trends we've seen in the past year: https://bit.ly/3tXcVL9 #insuranceindustry #insurtech

Cyber Insurance Trends
Like Comment
To view or add a comment, sign in
Grow Insurance Partners

147 followers
11mo
Report this post
🎃👻 October is here, and it brings a spooky reminder of cyber dangers that can give you a scare 🕷️ This month, we want to remind you how important it is to protect your business cyber insurance 🛡️ Don't risk facing scary consequences without protection – we're here to show you the sneaky tricks cybercriminals use to steal yours and your clients' important information 🔍👁️🗨️ Stay safe from cyber tricks and get yourself the peace of mind with cyber insurance. #GrowInsurance #CyberInsurance #CyberScareSeries
Like Comment
To view or add a comment, sign in
George Hazel
6mo
Report this post
The threat landscape is changing. @Optiv's Dara Gibson outlined her predictions for the state of cyber insurance in 2024 in this Help Net Security video recap. #OptivNews

#OptivNews: Recapping Dara Gibson's Cyber Insurance Predictions

social.optiv.com
Like Comment
To view or add a comment, sign in
Drew Plantage

Cybersecurity Consultant
6mo
Report this post
The threat landscape is changing. @Optiv's Dara Gibson outlined her predictions for the state of cyber insurance in 2024 in this Help Net Security video recap. #OptivNews

#OptivNews: Recapping Dara Gibson's Cyber Insurance Predictions

social.optiv.com
Like Comment
To view or add a comment, sign in
Jim Wurster
6mo
Report this post
The threat landscape is changing. @Optiv's Dara Gibson outlined her predictions for the state of cyber insurance in 2024 in this Help Net Security video recap. #OptivNews

#OptivNews: Recapping Dara Gibson's Cyber Insurance Predictions

social.optiv.com
Like Comment
To view or add a comment, sign in
Swwapnil Kachave

Cyber Operations Manager | We Secure Greatness | Optivian
6mo
Report this post
The threat landscape is changing. @Optiv's Dara Gibson outlined her predictions for the state of cyber insurance in 2024 in this Help Net Security video recap. #OptivNews

#OptivNews: Recapping Dara Gibson's Cyber Insurance Predictions

social.optiv.com
Like Comment
To view or add a comment, sign in
Brad Horne

Manager, Client Operations/ Lead Trainer at Optiv Inc
6mo
Report this post
The threat landscape is changing. @Optiv's Dara Gibson outlined her predictions for the state of cyber insurance in 2024 in this Help Net Security video recap. #OptivNews

#OptivNews: Recapping Dara Gibson's Cyber Insurance Predictions

social.optiv.com
Like Comment
To view or add a comment, sign in
George Hazel
6mo
Report this post
The threat landscape is changing. @Optiv's Dara Gibson outlined her predictions for the state of cyber insurance in 2024 in this Help Net Security video recap. #OptivNews

#OptivNews: Recapping Dara Gibson's Cyber Insurance Predictions

social.optiv.com
Like Comment
To view or add a comment, sign in
Andrew Sawatzky

Cyber Advisory and Solutions Leader | Delivering end-to-end Cybersecurity Solutions
6mo
Report this post
The threat landscape is changing. @Optiv's Dara Gibson outlined her predictions for the state of cyber insurance in 2024 in this Help Net Security video recap. #OptivNews

#OptivNews: Recapping Dara Gibson's Cyber Insurance Predictions

social.optiv.com
Like Comment
To view or add a comment, sign in
Dave R.

Client Security Advisor @ Optiv | Cybersecurity Expert
6mo
Report this post
The threat landscape is changing. @Optiv's Dara Gibson outlined her predictions for the state of cyber insurance in 2024 in this Help Net Security video recap. #OptivNews

#OptivNews: Recapping Dara Gibson's Cyber Insurance Predictions

social.optiv.com
Like Comment
To view or add a comment, sign in

2,817 followers

View Profile Follow

Paragon Brokers’ Post

Transcript

More Relevant Posts

Explore topics