Lloyd's of London Cyber Insurance Requirements and Underwriting Standards
Lloyd's of London has established requirements and guidance for managing syndicates' cyber insurance exposure. Key requirements include: mandatory systemic cyber risk exclusions (from March 2023), war and state-backed cyber attack exclusions, cyber insurance risk management standards, and exposure management. Lloyd's Market Bulletin Y5381 (2022) requires all standalone cyber policies to exclude state-backed cyber attacks with clear attribution clauses. Managing agents must demonstrate cyber risk management capability. Lloyd's Realistic Disaster Scenarios (RDS) for cyber include cloud outage, mass ransomware, and data exfiltration scenarios.
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Framework Domains (4)
Data and Risk Assessment
| Code | Title |
|---|---|
| LLOYDS-CIR-2.1 | Exposure Data Collection |
| LLOYDS-CIR-2.2 | Risk Assessment Information |
Model Clauses
| Code | Title |
|---|---|
| LLOYDS-CIR-3.1 | LMA Model Clauses |
| LLOYDS-CIR-3.2 | Implementation (31 March 2023) |
State-Backed Exclusions (Y5381)
| Code | Title |
|---|---|
| LLOYDS-CIR-1.1 | War Exclusion |
| LLOYDS-CIR-1.2 | State-Backed Attack Exclusion |
| LLOYDS-CIR-1.3 | Attribution Mechanism |
Underwriting Standards
| Code | Title |
|---|---|
| LLOYDS-CIR-4.1 | Affirmative Cyber Coverage |
| LLOYDS-CIR-4.2 | Systemic Risk Assessment |
| LLOYDS-CIR-4.3 | Catastrophe Scenario Testing |
Maps to 396 other frameworks
Frequently Asked Questions
What is Lloyd's of London Cyber Insurance Requirements and Underwriting Standards?
Lloyd's of London Cyber Insurance Requirements and Underwriting Standards is a compliance framework from United Kingdom (Lloyd's of London) with 4 domains and 10 controls. Lloyd's of London has established requirements and guidance for managing syndicates' cyber insurance exposure. Key requirements include: mandatory systemic cyber risk exclusions (from March 2023), war and state-backed cyber attack exclusions, cyber insurance risk management standards, and exposure management. Lloyd's Market Bulletin Y5381 (2022) requires all standalone cyber policies to exclude state-backed cyber attacks with clear attribution clauses. Managing agents must demonstrate cyber risk management capability. Lloyd's Realistic Disaster Scenarios (RDS) for cyber include cloud outage, mass ransomware, and data exfiltration scenarios. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
How many controls does Lloyd's of London Cyber Insurance Requirements and Underwriting Standards have?
Lloyd's of London Cyber Insurance Requirements and Underwriting Standards has 10 controls organised across 4 domains. The largest domains are State-Backed Exclusions (Y5381) (3 controls), Underwriting Standards (3 controls), Data and Risk Assessment (2 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
What frameworks does Lloyd's of London Cyber Insurance Requirements and Underwriting Standards map to?
Lloyd's of London Cyber Insurance Requirements and Underwriting Standards maps to 396 other compliance frameworks. The top mapping partners are ISO 27019 (20% coverage), ISO 45001 (20% coverage), CFTC System Safeguards (17 CFR 37, 38, 39, 49) (20% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I get started with Lloyd's of London Cyber Insurance Requirements and Underwriting Standards compliance?
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