Insurer Beazley has created a cyber offering for the marine industry to integrate with its existing marine and cyber products. The coverage will cater for physical damage and loss of business if a marine vessel is incapacitated by a cyber attack. “Cyber insurance can be used as an additional protection against cyber-attacks on vessels or other assets in the maritime industry,” said Mr John McDonnell, chief executive officer at Beazley. Regulations from the International Maritime Organization stipulate that ship operators must take include cybersecurity in their overall approach to risk management.
Insurer Beazley has created a cyber offering for the marine industry to integrate with its existing marine and cyber products. The coverage will cater for physical damage and loss of business if a marine vessel is incapacitated by a cyber attack. The product will also include risk management features, including self-assessment tools, a cyber security workshop, and an on-board assessment. Regulations from the International Maritime Organization stipulate that ship operators must take include cybersecurity in their overall approach to risk management.