Marine insurer to offer cyber cover

From 1 January the cover will be offered at preferential rates to all vessels insured for H&M and/or P&I through the Club, with three packages available depending on the level of cover needed.

The Swedish Club says it is one of the first marine insurers offering this type of cover which will protect owners and crew from cyber attacks that occur on onboard systems.

“When port states and coast guards around the world start asking about cyber risk mitigation and resilience – and they already are – our member shipowners can show them a cyber insurance policy from The Swedish Club, with specialist cover for maritime cyber-emergency response, physical damage and wreck removal resulting from a cyber attack,” said Thomas Nordberg, managing director of The Swedish Club.

“We are delighted to be able to deliver these new market leading products. They meet market demands, are easy to understand, fit for our members’ needs and will deliver the best value for money in the market,” he added.

Developed in tandem with experts in the field, the Basic package covers maritime cyber-emergency response, physical damage and resulting loss of hire and the Basic Plus version offers expanded coverage limits.

A comprehensive package is also available as is a round-the-clock hotline manned by cyber specialists.