When Bob and Alice get hacked: Some Practical Guidance on the Operation and Limits of Cyber Risks Insurance

November 2022

Abstract

This article summarises the risks to which Cyber Insurance responds and identifies some limits and potential pitfalls of the policy wordings. It also touches on the legal and public policy considerations affecting some aspects of the coverage. There is also comparison of the effects of ameliorative legislation on potentially onerous policy terms under the respective laws of Australia and the United Kingdom.

Authors

Fred Hawke

Consultant, Clayton Utz, Australia

Fred Hawke has extensive legal and practical experience in insurance law, claims management and insurance company operations. Before joining Clayton Utz, he was directly employed in the insurance industry for more than 20 years and was responsible for negotiating and settling insurance and reinsurance disputes involving some of Australia’s largest liability losses. Since joining Clayton Utz 23 years ago, Fred has practised insurance and reinsurance law, with special emphasis on claim recoveries, regulatory and compliance issues, Property, Casualty, Marine, Crime and Financial Liability insurances, reinsurance and retrocession, Trade Credit insurance and Political Risk insurance, Captives and alternative risk transfer are all areas in which he has had considerable experience, both in the insurance industry and in legal practice. Fred is a member of the Editorial Board and former General Editor of the Insurance Law Journal. He is the present author of the chapters on Australia in International Insurance Law and Regulation and on Insurance in The Laws of Australia and has published numerous other papers and articles on topics of insurance law and claims management.

Guy Boyd

Chief Compliance Officer, Anz, Australia

Currently Chief Compliance Officer for ANZ, having previously held roles including Head of Financial Crime Portfolio and Head of Compliance Australia Division at ANZ. Prior to working at ANZ, Guy was a lawyer at Clayton Utz lawyers in Australia.

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When Bob and Alice get hacked: Some Practical Guidance on the Operation and Limits of Cyber Risks Insurance

Abstract

Authors

Companies

Clayton Utz

Anz

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