twicer ® 27-Jul-2021 22:46

Managing Cyber Risks and the Role of the P&I club | An overview


Year: 2020
Language: english
Author: The American Club and ABS Group
Format: PDF
Quality: eBook
Pages count: 14
Description: Managing Cyber Risks and the Role of the P&I Club | an Overview - October 2020
Generally speaking, and in contrast to most other forms of marine insurance, the rules (or basic conditions of cover) of International Group P&I Clubs (IG) do not exclude claims arising from cyber incidents, unless such an incident were considered to be an act of war or terrorism. Accordingly, regular Group club P&I cover would be available for the consequences of a non-war or terrorism related cyber incident. This might arise, for example, from a simple onboard computer malfunction, from a breakdown unintentionally caused by remote intervention in onboard systems, or even from an act of sabotage by a disgruntled former employee. In the circumstances, being part of the IG, and as discussed in further detail in the remainder of this Overview.
Crew training and awareness are crucial, as the most common way for cyber criminals to attack is through inadequately trained individuals. A 2018 survey revealed that 47% of the seafarers questioned stated they had sailed on a vessel that been a target of a cyber attack. Regrettably, only 15% of those seafarers acknowledged having received at least some cybersecurity training provided by their manning agent. Unfortunately, most of the cyber training was not specific either to the company or to the ship.

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