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Cyber Business Panel – 26 March 2025

The panel discussed extortion claims payments and sanctions, focusing on clarifying insurer responsibilities. Discussions continued on splitting US/non-US risk codes and definitions. Broker engagement training was praised, though attendance was noted as needing improvement. The media outreach project concluded, with encouragement for new topic suggestions. Committee engagement updates were provided, including feedback from the cyber claims group. Updates from the NMC meeting highlighted market challenges, the impacts of US wildfires and broker remuneration guidance. The meeting concluded with planning for RIMS attendance and progress on SME modular product development.