Shoreline Webinar Announcement

This according to a recent Safety at Sea article that published some of the findings of the, ‘the fifth annual BIMCO cyber security survey’ as follows;

"Just under a third (31%) of respondents to the 2020 Safety at Sea and BIMCO Maritime Cyber Security survey said they had fallen victim to a cyber-attack in the last 12 months, up from 22% in last year’s survey.  While 28% of respondents said that loss of money was a common effect of a cyber-attack, spend on cyber security is polarised. Just 18% of respondents said their organisation spends more than GBP40,000 (USD50,000) on cyber security measures, and19% spend less than GBP10,000 (USD12,400)” 

Cyber security + Cyber Insurance = Cyber Resilience

To improve a company’s cyber resilience, investment in security measures and risk transfer should not be mutually exclusive.  Together they are stronger and will ultimately mitigate the costs of this 21^st century risk to your client’s company.

How can Shoreline help to square this simple equation?

Join Shoreline's CEO - Captain Thomas Brown and their longstanding consultant Nick Taylor on a live webinar to understand how Shoreline’s Maritime Cyber Insurance (MCI) is the right risk transfer solution for your shipowner clients.

When: Thursday 4th June 2020 @ 13:00 BST (40 mins presentation – 20 mins Q&A)

Introduction to the Webinar

Historically, when faced with third party risks that could jeopardize the financial viability of their companies, ship owners came together to form clubs to protect them and indemnify their losses. Today the International Group of P&I Clubs is the proud legacy of those early insurance innovators. Track forward to the present day and we are at another watershed moment for shipping. With IT, increasingly, a pre-requisite of operating a fleet efficiently, there comes the arrival of the threat of exploitation by cyber-criminals.

Most of these bad actors are motivated by the illicit opportunity to make money, others are driven by ideological or political goals. However driven, their actions can be incredibly destructive and costly to the victim; shipowners are ever more frequently being targeted and however well protected they might think they are, cyber-criminals are skilled in finding their way around your client’s defences.

Whilst your client’s P&I insurer will cover their third party liability cyber-risk, there remains a gap in cover; in response to this 21st Century risk, Shoreline is meeting the challenge of delivering an innovative product with its new Maritime Cyber Insurance (MCI). Shoreline understands the cost of cover has to be affordable, but the right cover must protect owners and operators from the impact to their assets that can be so grave as to jeopardize their ability to survive the financial shock, should they remain uninsured.

What will you learn?

Industry cybercrime risk metrics, actual loss/threat scenarios, and product details including:

• Scope of cover
• Flexible options
• The cost of cover
• The quoting process