Marine cyber threats fast evolving
It is reported that cyber-attacks on shipping have increased 900% since the Maersk attack back in 2017. A frightening statistic given the significant pressures this vital sector is already facing. Also, the number of parties involved and the complex contractual arrangements in place between them mean that the resulting claims can be difficult to unravel.
This was a really interesting webinar, and follow-up article, by Insurance Day highlighting the various cyber risks affecting the maritime sector and the help needed from Insurers to combat these. [click here – Marine cyber threats fast evolving :: Insurance Day (informa.com]
It is also notable that the vast majority of cyber-attacks are onshore – affecting port facilities rather than vessels at sea. This aligns with what we’re seeing at ASL, whereby critical ports have been hit by ransomware attacks resulting in a combination of significant business interruption losses, potential third party claims and remediation costs to bring the systems back online.
It’s going to be interesting to see how the maritime industry and insurers work together to address this ever evolving risk.
