Lloyd’s investigates possible cyber attack

Lloyd’s of London has confirmed it is investigating a possible cyber attack.

“Lloyd’s has detected unusual activity on its network and we are investigating the issue, a Lloyd's spokesperson said by email, adding: “As a precautionary measure, we are resetting the Lloyd’s network and systems. All external connectivity has been turned off, including Lloyd’s delegated authority platforms.”

Lloyd’s has informed market participants and other relevant parties, and will provide more information once its investigation is concluded.

Cyber insurer Coalition has predicted the market will see an “uptick” in cyber attacks when the Russia-Ukraine war ends. 

But some experts believe that, even if the war drags on, other cyber criminals will step in and fill the vacuum, driving up claims even before the war’s end.