New Cyber Product Targets Gaps Left by War Exclusions
Markel Insurance introduced a cyber insurance product that offers coverage for indirect losses caused by acts of war. The product provides up to $5 million in coverage per risk, filling gaps left by cyber insurance war exclusions.
Chris Burgess, Director of Cyber at Markel International, said, “While we’re initially beginning with a low limit, today’s announcement is a step in the right direction towards providing a market-wide solution for these highly prevalent risks.”
State-Sponsored Cyberattacks Prompt Insurance Innovation
Cyberattacks driven by geopolitical motives are becoming more frequent. According to the World Economic Forum Global Cybersecurity Outlook 2025 report, in 2024, state-backed attacks accounted for 35% of all breaches. Companies in finance, energy, and infrastructure face the greatest risk.
Filling the Gaps Left by Cyber Insurance War Exclusions
Traditional cyber insurance policies typically exclude losses related to acts of war. Markel’s new solution offers coverage for collateral damage from such events. This includes losses from indirect impacts of war, whether declared or not.
Designed as a Supplemental Wrap-Around Policy
The product supplements existing cyber policies issued by Markel or another provider. It’s aimed at clients facing stricter war exclusions under new policy versions. Markel’s policy can restore some or all lost coverage.
$5 Million Limit and Dedicated Risk Capacity
Markel has allocated a fixed aggregate limit to this new coverage. The offering provides up to $5 million per insured risk and is fully backed by Markel’s financial and legal structure.
A Strategic Move to Address Market Demands
Markel is responding to rising demand for coverage that addresses cyber insurance war exclusions. The product targets large corporations seeking protection from indirect cyber war impacts.
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