Lloyd's to launch new cyber risk code for 2015

Lloyd's will bring in a new cyber risk code from 1 January
2015 and will re-run a cyber scenario data-collection exercise,
according to a market bulletin sent to managing agents today (25
November).
In the communiqué, Lloyd's performance management
director Tom Bolt struck a balance between encouraging innovation
in the fast-growing class of business and warning that exposures
and accumulations must be monitored effectively.
Bolt hailed cyber classes as an area where the Lloyd's