Property and casualty reinsurer Canopius has launched a new cyber war product offering businesses protection against the escalating threat of cyber war.
The new cover provides protection against state-sponsored attacks carried out as part of a physical conflict.
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It also safeguards against state-sponsored attacks that impact a country’s operations regardless of whether a physical war has been declared.
Coverage is currently available on a limited basis and can be purchased alongside a traditional cyber policy where Canopius is the lead primary insurer.
Canopius UK head of Cyber and Technology Camilla Walker said: “Recent events have demonstrated how quickly regional conflict can escalate into widespread cyber disruption, with state-aligned groups targeting commercial enterprises far removed from the physical front lines. We developed this product to provide clients with the option to extend their policies to include state-sponsored attacks that form part of a cyber or physical war. It reflects our commitment to staying ahead of emerging risks, however complex or unprecedented they may be.”
Earlier this month, the company opened its permanent office in Manchester, UK, which will serve as its Centre of Operational Excellence and the home of its global operational functions. The new facility brings together top expertise in technology, data, project management and operations, supported by AI-powered innovation.
In 2025, Canopius approved Qubit, a specialist managing general agent focusing on digital asset risks, as a coverholder to distribute its digital asset custody and crime insurance products from Hong Kong.
This marked the first time that Canopius provided digital asset insurance in the Asia-Pacific region in collaboration with another company.
