The Cyber Business Panel met on 4 June 2026 to discuss cyber market developments, wordings, claims trends, and emerging risks. Progress continued on the LMA Model Type 5 Cyber War Exclusion & Infrastructure Clause, with efforts focused on simplifying wording and aligning competing drafts before wider consultation. The SME cyber product received positive feedback from stakeholders, with additional modules added and publication targeted for September or October following final approvals. Lloyd’s also sought market input on a proposed affirmative cyber war risk code. The panel received updates on cyber education initiatives, including presentations delivered to professionals from Italy’s MIB School of Management. Discussions on digital assets centred on clarifying that property policies ensure tangible assets rather than cryptocurrencies or NFTs, while recognising potential exposure shifts to cyber policies. Claims discussions highlighted increasing use of professional indemnity policies following major cyber incidents. Members also reviewed developments relating to Middle East conflict exposures, data centres, Brazil regulatory changes, quantum computing risks, and natural catastrophe exclusions.