Daily Digest: Markel on cyber war, Australia SCS losses estimated, Space insurance opportunities

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Cyber insurers ‘overly concerned’ about war: Markel’s Burgess The insurance market has been too worried about cyber war risk, according to Markel International's director of cyber, Chris Burgess. While the cyber market has largely coalesced around the Lloyds Market Association's cyber war wordings issued in 2022, Burgess says insurers have continued to adjust cover depending on their risk appetite - and in some cases, this has led to tighter restrictions. “The cyber insurance market has been overly worried about cyber war. I think it’s disproportionately spent time talking about it and being concerned about it,” Burgess says in an interview with Insurance Day.