Where a building’s systems such as security, lights, elevators, HVAC, and other systems are accessed by hackers who take control of the systems and then demand a ransom. The hackers may shut down the systems, lock down the building and restrict access until the ransom is paid.
Insurance Encyclopedia
Seizure
Exclusions in the Institute Cargo Clauses and International Hull Clauses warrant the policy free of capture, seizure, etc. Seizure means ‘every act of taking forcible possession, either by lawful authority or by overpowering force’. None of these elements were present when Dominican Republic customs officials stole cars due for transshipment (Bayview Motors Ltd v. Mitsui Fire & Marine Insurance Co. Ltd (2002), 1 Lloyd’s Rep 652).