Lloyd’s fear cyber breach amidst ‘unusual’ network activity

Lloyd’s of London yesterday announced it was investigating a possible cyber-attack with companies now on high alert for intrusions as a result of the conflict between Russia and Ukraine.

Related topics:  Lloyd's
Protection Reporter
6th October 2022
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The announcement was made via email in which a Lloyd’s spokesperson stated it had detected “unusual activity on its network.”

It was also confirmed that the insurer had “informed market participants and relevant parties” and planned to provide more information once its investigations had concluded.

According to The Record, “all external connectivity has been turned off, including Lloyd’s delegated authority platforms.”  This systems reset was described as a precautionary measure after “unusual” network activity had been detected.

Less than three months ago, Tony Chaudhry, Lloyd’s underwriting director, highlighted cyber risks in Lloyd’s market bulletin, saying that “it is important that Lloyd’s can have confidence that syndicates are managing their exposures to liabilities arising from war and state-backed cyberattacks.”

Lloyd's declined to comment on the possible source of the attack, Reuters reports.  

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