The Cyber Business Panel met on 28 July 2026 to review progress on key cyber market initiatives. Members agreed to proceed with publication of the LMA Model Type 5 Cyber War Exclusion & Infrastructure Clause, following final Wordings Committee review and consensus on the infrastructure exclusion wording. The SME cyber product reached the final stages of development, with marketing plans underway and engagement continuing with BIBA, ABI, government departments, brokers, and European insurance associations to support adoption and address the SME cyber protection gap. The panel also reviewed implementation guidance for Lloyd’s new WY cyber war risk code, ensuring it would only apply to affirmative cyber war coverage and not be used to circumvent war exclusions. Claims updates covered cyber cause code redesign, plans for a cyber symposium, ransomware activity, and legal developments including the Nord Stream judgment. The Non-Marine Committee update addressed governing law clauses, AI system definitions, data centre workstreams, outbreak of war projects, and updated SMB guidance.