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LIIBA urges UK government‑backed public‑private backstop for catastrophic cyber risks, with Pool Re as precedent; calls for FCA‑led framework amid Lloyd’s state‑actor exclusions

Published on: 08 October 2025

Published by a Law360 reporter
Legal News
Article summary

Britain should emulate the United States, where new federal responsibilities are being considered for handling catastrophic cyber attacks, according to the London & International Insurance Brokers' Association (LIIBA).

This advice is set out in a broader report that details practical actions the Financial Conduct Authority (FCA) might take to pursue a pro-growth agenda for the insurance broking industry.

In the paper, LIIBA contends that regulators can help develop 'public-private shock absorbers for systemic perils'.

It also states that 'Targeted backstops can restore market function after step-change shocks', LIIBA said...

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