This International Underwriting Association (IUA) online market briefing discusses developing realistic cyber catastrophe scenarios for the Lloyd’s market and highlights issues of uncertainty on the topic.

Recent changes in the market have been focused on bringing greater clarity to cyber as a peril and its impact on existing classes. However, there still remains a great deal of confusion around the usage of the terms silent, affirmative and non-affirmative cyber coverage.

At this IUA presentation, hosted by the IUA’s newly formed Non-Affirmative Cyber Committee, Guy Carpenter, who have been deeply involved in developing realistic cyber catastrophe scenarios for the Lloyd’s market (which were formally introduced on April 30th), will peel back some of the layers of uncertainty on the topic, including focusing on how recent efforts are helping reshape the exposure of the market to the peril.

In addition to this, the event guest speakers will also introduce the scenarios, discuss the context and needs surrounding their development, as well as touching on their expected impact.