LLOYD’S RECEIVES APPROVAL FOR CYBER SYNDICATE AS IT TARGETS PRAGMATIC GROWTH

"The market is developing ‘realistic disaster scenarios’ to prepare for potential threats, added chief of markets

Lloyd’s chief of markets Patrick Tiernan has confirmed initial approval has been received for the market’s first standalone cyber syndicate.

During a quarterly message to the market delivered last week (22 September 2022), Tiernan said the syndicate had received initial approval and that Lloyd’s was determined to play a role in driving maturity in cyber classes."

(Insurance Times - September 2022)