- Increase property and casualty premiums for energy firms.
- Narrow terrorism and sabotage coverage.
- Raise reinsurance attachment points.
- Trigger force majeure clauses in certain policies.
Even the risk of such attacks can move the market.
Insurance is not reactive. It is anticipatory.
The actuarial tables update quickly when missiles fly.
Cyber Insurance: The Silent Front
Perhaps the most underestimated risk lies in cyber warfare.
Iran has a documented history of cyber operations targeting financial institutions, infrastructure, and private corporations. In modern warfare, cyber retaliation often precedes or supplements physical strikes.
If U.S. companies — particularly banks, utilities, healthcare systems, or defense contractors — face cyberattacks linked to state actors, insurers will scrutinize policy language carefully.
We may see disputes over:
- War exclusions in cyber policies.
- Attribution standards (Was it state-sponsored?).
- Acts of cyber terrorism versus traditional war.
- Coverage triggers for business interruption losses.
After Russia’s invasion of Ukraine, insurers and reinsurers began tightening cyber war exclusions. A prolonged Iran conflict could accelerate that trend.
Policyholders who assume “cyber coverage is comprehensive” may be in for a rude awakening.
