Russia's threat of a cyber attack puts insurance industry on the spot. : The Indicator from Planet Money In the wake of the war in Ukraine, American companies are preparing themselves for potential Russian cyber attacks. Many of them will need to rely on an insurance system that has historically looked to avoid paying out in times of war or crisis. Today, why the threat of cyber warfare has the insurance industry scrambling.

Cracking the code on cyber insurance

Cracking the code on cyber insurance

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The exodus of companies after Russia's invasion of Ukraine has sparked concern of cyber retaliation. Hundreds of companies large and small were told by the Biden administration to prepare for possible cyber attacks conducted by Russia. This has many of them looking towards cyber insurance as a way to protect themselves. However, a centuries-old insurance provision may make it tough for companies to actually collect an insurance payout if they're a victim of a cyber attack.

Today, we learn why the insurance industry may not be a savior for companies looking to minimize damage from cyber warfare.

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