It’s been a “PR disaster” says the CEO of managing general agent (MGA) CFC, which has a Lloyd’s syndicate.
The Lloyd’s announcement caused “panic” by making insurance buyers think that no attacks linked to nation states will be covered, which is far from true.
“It really is such a shame to see a change in our market that is fundamentally positive for policyholders be portrayed negatively due to essentially it being misrepresented in the press and there being a load of confusion in our market,” noted another observer.
‘It kills me’, he says of communication failures
Source: Lloyd’s nation state cyber mandate a ‘PR disaster’ – CFC CEO