Insurers and insureds alike agree that clear policy wording will be the path forward in dealing with concerns about cyber war in the wake of the Russia-Ukraine conflict. This isn’t the first time in recent history that reworking policy language has been top-of-mind for the insurance industry, either.
“The pandemic has shown some ambiguities can exist in traditional policy wordings,” said Jürgen Reinhart, chief underwriter for Cyber at Munich Re. “All of this underlines the importance for insurers to have clear wordings that are fit for purpose.”