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WHATEVER YOUR MARINE cyber insurance NEEDS

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Covers

We put together solutions that are clearly worded, and thus are customer friendly.

Stefanos Vardalos

Director, Safeport Co.

Safeport brings a new approach in the marine cyber insurance market.  Currently the products that are available and applicable to the Shipping industry are still in their infancy and there is no “one size fits all” solution for marine cyber risk. 

By combining the best elements of various marine cyber covers, Safeport tailors solutions to offer clients a well-rounded cover that is best suited to their needs. The aim is to adapt the cover to clients needs along with the ever evolving cyber world and risk.

Build the cover YOU need

Cyber Hull Cover

A well defined perils policy designed to provide H&M cover in circumstances where, due to a Cyber related cause, the H&M policy does not respond.

Incident Response & Remediation

 Cyber incident response costs (including IT forensics, legal, breach notification and crisis communications) Cybercrime
System damage and business interruption (including full data re-creation, consequential reputational harm)

Loss of Hire

Covering loss of income, deterioration of cargo and extra expenses caused by computer attacks; any operational errors, accidental damage of hardware etc

Cover Portfolio

Safeport is different. In addition to our consultancy, risk assessment services, we are seeking to provide Insurance solutions to our clients. Currently the products that are available and applicable to the Shipping industry are still in their infancy.

For this reason, we tailor solutions for our clients, to offer a well-rounded cover that is best suited to their needs. Our aim is to adapt the cover to better suit our clients as this risk and the cyber world is ever evolving.  The main factors we look at providing cover for are:

Hull and Machinery Cover

We look at providing cover for the actual Hull & Machinery of the vessel, which is currently not included in the majority of H&M Policies due to the Cyber Attack Exclusion Clause. The cover we provide is well worded and there is no room for ambiguity.

Loss of Income (and Shipowners’ Ship Operators’ liability)

The costs associated with but not limited to, incident response, Cybercrime, Network liability (including security & privacy), Court attendance costs, Errors & Omissions in Technology, Liability of the Media including defamation and infringement of property rights, Business Interruption costs and System damage, Privacy Liability and Network Security, all of which are connected to the day to day business and functionality of a Shipping Company and their Ships. The cover provided is supported by an experienced claims team and cyber incident responders. We provide cover for limits up to £10,000,000 with sensible deductibles and logical premium.

Cyber Incident Response & Reinstatement

This product indemnifies the Owner for loss, damage, expense or liability that derives directly or indirectly from a cyber-attack whether from a person or a group of persons acting alone or in association with an organization, that results in actual physical loss or damage or liability of the Vessel, that is not recoverable under the H&M Policy. We furthermore seek to provide cover for the loss of income of our clients’ following a cyber event that would result their business being interrupted or suspended. One area we focus on is cover the loss of hire that an Owner may suffer following a Cyber event. Clients can purchase the full package or pick and choose what they wish to cover from the above. We aim to put together solutions that are clearly worded, so that they are customer friendly. With so many incidents occurring at an ever increasing rate, experts are saying it is only a matter of time that all companies will have an encounter some sort of attack.

We’ll Be There Every Step of the Way, before and after an incident. 

1

Evaluate Risk

Starting with a Risk Assessment you are at the position to understand how your company can handle cyber risk and what needs to be done to mitigate the risk. 

2

Mitigate the Risk

Understanding the risk and the exposure of your organization to cyber threats is the first step into mitigating that risk. Our team can work closely with you to decide on the correct strategy and tools. 

3

Choose your Cover

Cyber hull cover, incident response, Loss of hire with a multitude of options according to your exposure and risk appetite. Ability to be covered against any cyber peril. 

4

Peace of Mind

With a correct risk mitigation strategy and proper cover you can rest assured that you are prepared whatever happens.

Simple

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