[Free to read upon sharing contact details] As the build-up and response to Russia’s invasion of Ukraine has clearly demonstrated, the US, EU, UK, and many other countries use sanctions as both a reactive and proactive tool in foreign policy. Whether used as deterrent to specific actions or in response to major geopolitical actions, the sanctions themselves have significant and widespread implications for business that increase legal, operational and reputational risks to business across the globe.

[Free to access upon setting up an account] The risk of Russian cyber retaliation in response to Western sanctions over Ukraine is just one pressing reason why the UK’s new national cyber strategy is so important.

Ransomware and warning shots about risk aggregation have added a big dose of complexity into an already complicated cyber risk landscape. Insurers are weighing the delicate balance of growth vs discipline in the face of surging claims and deteriorating profitability.

Most, if not all, cyber insurance policies contain a war exclusion of some description. Given the current situation, it is natural that organizations will want to understand how their cyber policy will likely respond in the event of a loss caused by a cyberattack alleged to have been deployed by or on behalf of the Russian state.