'Cyber risk' means any risk of accidents, incidents, financial loss, business disruption or damage to the reputation of an organisation through failure of its electronic systems or by the persons using those systems.
In a shipping context a cyber risk may be the failure of an on board GPS receiver due to a fault with the equipment, extending right through to catastrophe scenarios of vessel systems being attacked and the vessel being disabled, run aground or taken over by malicious third parties. Although the catastrophe scenarios are possible the likelihood of such an incident for most companies is low.
Our dedicated cyber security area provides information on the various aspects and impacts of cyber risks in shipping. Click on each of the sections below to find out more.
For more information, please contact Colin Gillespie, Deputy Director (Loss Prevention).