New risk codes were published in 2026 for cyber.

• Risk code CY: New risk code description: from “CYBER SEC DATA AND PRIVACY BREACH EXCLUDING TREATY REINSURANCE” to “CYBER SECURITY DATA AND PRIVACY BREACHES US EXCL. TREATY REINSURANCE”. Should cover all methods of placement.
• Risk code CZ: New risk code description: from “CYBER SECURITY AND PROPERTY DAMAGE EXCLUDING TREATY REINSURANCE” to “CYBER SECURITY AND PROPERTY DAMAGE US EXCL. TREATY REINSURANCE”. Should cover all methods of placement.
• Risk code CG: New risk code: “CYBER SECURITY DATA AND PRIVACY BREACHES NON- US EXCL. TREATY REINSURANCE”. Should cover all methods of placement.
• Risk code CH: New risk code: “CYBER SECURITY AND PROPERTY DAMAGE NON-US EXCL. TREATY REINSURANCE”. Should cover all methods of placement.

Following Lloyd’s bulletins Y5381 and Y5433 in respect of state-backed events, the panel has, in conjunction with the LMA Wordings Committee, developed a suite of clauses to help members comply with the requirements of the bulletin.

Ransomware and extortion are leading drivers of cyber claims due to their disruptive nature and financial impact. They has reshaped how insurers assess, price and manage cyber risks, making them focal points for the Cyber Business Panel.

Extortion payments present a legal, ethical, operational and financial challenge. While cyber insurance has historically covered these costs, the rising scale and frequency of demands are prompting a rethink of how such payments should be managed and insured.

London is a key centre of excellence in the global cyber insurance sector. As such, the panel utilises the insurance trade press to produce thought leadership pieces of interest to the market. Recent articles have looked at how Lloyd’s is leading with cyber innovation, how the panel has developed educational content for the good of the market and how the Lloyd’s market is at the cutting edge of claims technology and leading best practice.