The Expert Podcast

• Delve into a groundbreaking case with far-reaching consequences for the cyber liability insurance market.
• Explore how the Mondelez case redefines coverage in the face of cyber warfare and its implications for insurers, agents, brokers, and companies.

• Mondelez, a major corporation, faced a devastating malware attack resulting in $10 billion in damages worldwide, triggering a dispute with their insurance provider.
• The insurance company invoked an "act of war" exemption, arguing that the cyberattack, originating from Russian military hackers targeting Ukraine, fell under this exclusion.
• Mondelez contested, claiming they were collateral damage in a broader cyber conflict unrelated to them, leading to a recent court ruling in their favor.
• The ruling prompts a reassessment of the definition of "act of war" in cyber insurance, challenging outdated 19th-century interpretations tied to traditional warfare.
• While not binding as precedent, the ruling influences how judges and juries perceive insurers' justifications for excluding cyberattacks under the "act of war" clause.
• The case signals a shift in insurers' strategies, potentially leading to revisions in policy language, moving from "Acts of War" to broader exclusions for "war-like acts."

• Highlight the intricate overlap between military actions, conflicts, and cyberattacks, urging policyholders to scrutinize coverage to align with expectations.
• Emphasize the importance of understanding policy exclusions and ensuring coverage aligns with potential cyber threats and geopolitical risks.

• The Mondelez case serves as a pivotal moment in defining the boundaries of cyber insurance coverage, prompting stakeholders to reevaluate their policies in the face of evolving cyber threats and warfare tactics.