I was training a broker in Business Interruption insurance last week and it was of course impossible not to discuss the business interruption implications of the Wanna Cry virus. It is clear that obtaining coverage is not without its hurdles.

Cyber policies provide Business Interruption in different ways.  All are subject to waiting periods some restrict coverage for attacks specifically targeted at the insured.  Some only cover damage during the restoration period others will cover loss of business income after systems are restored.

Brokers need to check the policy carefully.  This is a checklist I prepared after the workshop.  I hope it helps


Posted by Neil Park May 22, 2017