Markel introduces affirmative cyber war cover

Markel Insurance, a unit of Markel Group Inc., Tuesday announced the launch of affirmative cyber coverage of up to $5 million per risk for indirect losses arising from an act of war.

The new product, developed by Markel International’s London-based cyber team, provides cyber cover for collateral damage caused by acts of war — losses arising from the indirect impact on an insured from a war, whether declared or not.

The new coverage has been developed as a wrap-around product for large corporate clients with existing Markel or non-Markel cyber insurance policies.

Markel said it will “initially” be offering a limit of up to $5 million per risk.