A new joint report by the International Forum for Terrorism Reinsurance Pools (IFTRIP), the UK’s terrorism pool, Pool Re, and the Geneva Association, proposes a new term, ‘Hostile Cyber Activity’ (HCA), to describe potential malicious behaviour that sits between terrorism and warfare. HCA is intended as an interim solution while the industry works towards a cross-jurisdictional consensus on a common language for nation state-backed cyber activity.
The report argues HCA may result in increased insurability as individual companies can better assess such risks and make informed decisions, resulting in clarity of coverage for insureds.
Dr Christopher Wallace, ARPC CEO and 2020 IFTRIP President, says ARPC supports research which extends terrorism thought leadership and expertise.
You can read the full report here.