Context
A new group for cyber claims professionals in the London Market is being launched by the IUA. The Cyber Claims Committee will hold its first meeting on October 15th, and is open to senior leaders working within cyber claims teams at London insurers and reinsurers. It will provide a forum for members to discuss market issues and emerging trends.
Key points to note and next actions
- The IUA already runs committees for cyber underwriters and cyber reinsurers. It has recently published research reports analysing cyber business interruption claims and cyber cover for warranty and indemnity risks.
- The new Cyber Claims Committee will aim to strengthen collaboration between claims and underwriting functions and promote best practices in the London company market. It will share insights to support underwriting strategy, product development, and risk management approaches.
- The group will also seek to address operational, regulatory and legal developments affecting cyber claims handling.