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UK terrorism reinsurance fund to include cyber coverage from next year
November 28, 2017 / 12:49 PM / 15 days ago

UK terrorism reinsurance fund to include cyber coverage from next year

(Reuters) - Britain’s Pool Re, which helps insurers pay out claims on property damage caused by terror attacks, said it will extend its cover to include damage and business interruption caused by acts of terrorism involving a cyber attack from April 2018.

Pool Re, set up in 1993, acts as a backstop to insurers paying out claims on property damage and business interruption.

It is financed by the insurance industry with government backing, and pay outs depend on the British government deeming an attack to be terror-related.

Pool Re said in March that it hoped to extend its cover to include cyber attacks on property.

Reporting by Rahul B in Bengaluru; editing by Jason Neely

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