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

Guy Boyd, Head of Compliance, ANZ, Australia

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.