Marine Insurance Specialists will be announcing a series of events to cover the Issues surrounding Cyber Threats for Marine Businesses

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Marine based businesses are now being warned of the threats they face through breaches of cyber security. IRCM will announce a series of events covering the risks faced by marine trades due to cyber threats in 2015.

Marina Dry Dock Cyber Threats

Marina Dry Dock Cyber Risks

Marine businesses are advised to address cyber security in the same way as they would address any other risk to their business; thorough risk assessments, implement robust security systems and working practices, invest in adequate insurance

The constant evolution of technology systems and/or processes along with the ever-changing political landscape leading to consequential legislation continues to expose businesses, their profit as well as personal assets. Marine based businesses are now being warned of the threats they face through breaches of cyber security and the liabilities that could arise from such breaches.

A number of events will be announced shortly for 2015 that are aimed at helping marine trdes understand how to be protected against cyber threats.

Mark Elcocks, Specialist Risks Executive with Marine Insurance brokers IRCM said “In November 2011 The European Network & Information Security Agency (ENISA) published a detailed report into the threats facing maritime organisations within the EU Member States.

“Three years on and maritime security experts are calling for action to raise further awareness of the threat and addressing potential solutions – the ENISA report stated “awareness of cyber security aspects is either at a very low level or non-existent in the maritime sector”.

Prime Minister David Cameron has highlighted the threat of cyber-attacks and the need for increased cyber security on several occasions since the ENISA report. And in June this year the Information Commissioner’s Office (ICO) published a report on the significant security vulnerabilities to businesses.

Mark went on to say “Business owners face large losses from multiple sources including business interruption through having their systems disrupted and/or intellectual property stolen, from fines up to £500,000 arising from unauthorised data release and, potentially, from third parties suffering loss or damage as the result of a cyber-security breach.

“Marine businesses are advised to address cyber security issues in the same way as they would address any other risk to their business; namely conduct thorough risk assessments, implement robust security systems and working practices, invest in adequate insurance protection and keep abreast of the evolving threat to their business through cyber-attack”

Insurance Risk & Claims Management (IRCM) is an independent Marine Insurance broker. For further information about IRCM go to http://www.marineinsurance-ircm.co.uk

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