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A Federal Backstop for Insuring Against Cyberattacks?
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A Federal Backstop for Insuring Against Cyberattacks?

Aaron Klein and Scott R. Anderson
Brookings Institution, 2019
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Technology is challenging insurers’ long-held notions about coverage, as cyberspace increasingly becomes the locus of liability. Insurance companies have excluded coverage for losses due to “acts of war” for more than 100 years. But conflicts between nations and attacks by terrorists have moved online, threatening commercial interests and the insurance industry’s long-term solvency. This thought-provoking exploration of sector challenges from experts Aaron Klein and Scott R. Anderson offers important considerations for state officials and financial executives.

Take-Aways

  • Insurers usually exclude war-related damages from coverage to protect their solvency.
  • Insurers now face claims over losses from cyberattacks.
  • Legislation limiting private insurers’ coverage of losses from terrorist events could serve as a viable framework for the growing digital economy.

About the Authors

Aaron Klein and Scott R. Anderson are fellows at the Brookings Institution.

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