Cyber insurers face hefty Ukraine war-related claims, despite fine print

April 11, 2022

LONDON—Insurers face potential multi-billion dollar claims for cyber attacks related to Russia’s invasion of Ukraine, despite policy wording designed to get them off the hook for war, industry sources say.

Policyholders could end up being covered “quite expansively” by cyber or cyber terrorism policies, said Yosha DeLong, Global Head of Cyber at Mosaic.

“Any time there’s ambiguous wording on a policy, it’s to the client’s advantage, not the insurer’s.”

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