The panel discussed the upcoming broker engagement training. A ‘pay on behalf’ wording for extortion claims was considered, with no clear consensus on Lloyd’s position. A ransomware consultation was underway with the ABI, with feedback to be sought. Updates were provided on the joint FI/cyber working group and progress on a new clause. The panel noted discussions from the latest NMC meeting and planned engagement with US stakeholders. Interest in AI risk was increasing, with challenges from legacy systems highlighted. Members were encouraged to proactively manage cyber exposures and maintain readiness.