When cyber insurances stop paying in the event of an attack
With cyber threats on the rise, insurance against these risks is becoming increasingly popular. In this way, companies hope to receive support in the forensic processing of a cyber attack as well as financial compensation for the damage caused. Max Rahner, Sales Director DACH of the industrial cybersecurity provider Claroty, on the new standard clauses for cyber insurance. Financial compensation for the damage caused by a cyber attack: These hopes could now get a significant damper. The most important industry association for Europe, Lloyds Market Association (LMA), has adopted new standard clauses for cyber insurance and has agreed on a changed approach to the War Exclusion Clause in connection with cybersecurity damage. Why…