How to assess your exposure, quantify your potential losses and recover from a maritime cyber attack.

Intel’s legendary co-founder and former CEO Andy Grove put it best when he said,

“Success breeds complacency. Complacency breeds failure. Only the paranoid will survive.”

When a shipping company measures success by its historical ability to avoid a cyber-attack, it becomes complacent and ever more prone to attack.

Only by being paranoid and meticulous in its continual cyber risk assessment, from which flows the implementation of its cyber security and risk transfer strategies will a company become more cyber resilient, thereby surviving and prospering in this internet age.

In Episode 8 of Shoreline’s series of Maritime Risk Podcasts, Shoreline’s CEO Captain Thomas Brown speaks to Anthony Hess, the CEO and co-founder of cyber response company Asceris, to address the issues of cyber claims quantification and analysis.

When you become the victim of a successful cyber-attack what does that look like, what are the likely financial losses your company may have to assume and how do you recover and get back to business?

We also discuss the value of Maritime Cyber Insurance as an integral part of your company’s overall cyber risk management strategy and discuss the ancillary benefits of the insurance cover that go beyond financial risk transfer.

If you are struggling to understand and quantify the size of your cyber risk exposure we can highly recommend listening to this very insightful discussion to hear the thoughts of a cyber risk professional who has responded to 100’s if not 1,000’s of cyber-attacks both large and small.