Morley Speed, Managing Director
Broadly speaking, the material world is covered by the property line and the virtual world by the cyber line. However, the demarcation is not absolutely clear, resulting in some overlaps in cover but also, more worryingly, some gaps in cover.
The matrix below shows how the four types of subject matter (columns A-D) are generally covered by direct policies, relative to the various types of cyber and property perils (rows 1-5). Where cover is predominantly provided by property or cyber, the relevant icon is shown in blue. Where there is a degree of ambiguity, or coverage is limited, the icon is shown in gray.
Clearly, this is a schematic simplification, but generally it would appear that coverage is fairly clearly assigned in columns A, B and C, as follows:
- A - Predominantly in the virtual world and covered by cyber
- B - Falls within the province of property
- C - Naturally follows B as this is for BI following B
The instances outlined in column D capture the complexities, particularly with respect to property.