Security

Lloyd’s of London investigates alleged cyber attack

Lloyd’s of London launched on Wednesday an investigating into a possible cyber attack after having detected unusual activity on its network.

Lloyd’s of London is investigating a cyberattack after detecting unusual network activity this week. In response to the alleged intrusion it has reset the IT infrastructure and shut down any external connection.

“Lloyd’s has detected unusual activity on its network and we are investigating the issue,” a spokesperson told the media. “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.”

The incident comes after the entire insurance industry was alerted of cyber attacks as a result of the ongoing conflict between Russia and Ukraine. Companies in the insurance market condemned Russia’s invasion of Ukraine and supported sanctions against Moscow. Both UK and European Union banned on insuring ships carrying Russian oil.

In August, Lloyd’s of London told to its insurance syndicates that it will no cover losses caused by cyber attacks conducted by nation-state actors and resulting from malicious activities related the ongoing conflict.

“It is important that Lloyd’s can have confidence that syndicates are managing their exposures to liabilities arising from war and state backed cyber-attacks.” reads a bulletin sent to syndicates.

“At a minimum, the state backed cyber-attack exclusion must:

  1. exclude losses arising from a war (whether declared or not), where the policy does
    not have a separate war exclusion.
  2. (subject to 3) exclude losses arising from state backed cyber-attacks that
    (a) significantly impair the ability of a state to function or (b) that significantly impair
    the security capabilities of a state.
  3. be clear as to whether cover excludes computer systems that are located outside
    any state which is affected in the manner outlined in 2(a) & (b) above, by the state
    backed cyber-attack.
  4. set out a robust basis by which the parties agree on how any state backed cyberattack will be attributed to one or more states.

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Pierluigi Paganini

(SecurityAffairs – hacking, Lloyd’s of London)

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Pierluigi Paganini

Pierluigi Paganini is member of the ENISA (European Union Agency for Network and Information Security) Threat Landscape Stakeholder Group and Cyber G7 Group, he is also a Security Evangelist, Security Analyst and Freelance Writer. Editor-in-Chief at "Cyber Defense Magazine", Pierluigi is a cyber security expert with over 20 years experience in the field, he is Certified Ethical Hacker at EC Council in London. The passion for writing and a strong belief that security is founded on sharing and awareness led Pierluigi to find the security blog "Security Affairs" recently named a Top National Security Resource for US. Pierluigi is a member of the "The Hacker News" team and he is a writer for some major publications in the field such as Cyber War Zone, ICTTF, Infosec Island, Infosec Institute, The Hacker News Magazine and for many other Security magazines. Author of the Books "The Deep Dark Web" and “Digital Virtual Currency and Bitcoin”.

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