Antares Backs Affirmative Cyber War Cover for US Grid Operators

Martin Campbell, Active Underwriter for Antares Syndicate 1274, added, “We’re delighted to support this initiative and to help give clients access to the affirmative cover they need for cyber war, in the sectors that need it most. Working alongside Lloyd’s and Canopius demonstrates once again the world-class problem-solving strengths of our syndicated market for clients with complex insurance needs.”

The product is the latest effort to close a coverage gap that has widened as utilities and grid operators become primary targets for state-backed hackers. A single successful attack on a power substation or water-treatment plant can cause hours or days of disruption. Under a standard policy with a war-risk exclusion, the insurer could decline payment pending attribution. The affirmative structure sidesteps that entirely by offering coverage up front.

The wording addresses a difficulty that has dogged the cyber market for the better part of a decade. Attribution of state-backed attacks requires intelligence resources and forensic analysis that can take weeks or longer. Even when attribution is possible, it may not be conclusive enough for insurance purposes. Insurers have been reluctant to pay without clear attribution, and clients have faced coverage uncertainty. By providing an affirmative grant, the policy shifts the risk of contested attribution from the client to the market, where the aggregate across the lineslip manages the exposure.

The cover is available now through Antares and Canopius, with Lloyd’s oversight. For operators of US critical infrastructure, it removes one of the biggest unknowns in their cyber risk management. The market continues to adapt to the escalation of state-backed cyber activity.