The Swedish Club is to offer its members insurance against cyber attacks, to help them meet new International Maritime Organization security guidelines.
The club aims to provide ship managers and crew with the capability to cope with incidents.
The package, which includes three levels of cover, will be offered to its hull and machinery and protection and indemnity clients at “preferential rates”.
The range of cover includes maritime cyber emergency response, physical damage and wreck removal resulting from a cyber attack.
The move is also part of the club’s strategy to offer its members a full spectrum of marine insurance policies.
“As the industry’s ‘all-in-one club’ we have worked hard to build a reputation for providing our members with comprehensive support for all their operational needs, and offering this cyber insurance is a natural progression in our commitment to them,” said managing director Thomas Nordberg.
“Partnered with our loss prevention efforts, this initiative now addresses the escalating threat of cyber attacks.”
Under new guidelines, during ship inspection port state control officers can ask crew what onboard cyber risk mitigation and resilience measures are in place.
Cyber insurance cover be used as part of a shipowner’s cyber risk mitigation measures.
Swedish Club director of underwriting Thorbjorn Emanuelsson said: “Cyber threats should not be taken lightly, and these new products will be instrumental in safeguarding members from the financial repercussions of cyber attacks.”
