News Asia21 Mar 2016

Australia:Gap in cover for physically destructive cyber terrorism

21 Mar 2016

There is a gap in the Australian property insurance market in situations where a cyber-attack by terrorists (or others), may inflict major physical damage by primarily cyber means, according to the Australian Reinsurance Pool Corporation (ARPC). Even if insurers were to include cyber-attack coverage for physical property, the ARPC terrorism reinsurance does not provide reinsurance cover for this type of attack as it would be considered computer crime under the Australian Criminal Code.

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