Underwriting For Shipowners
Shipowners and ship managers face cyber risks in different ways. An owners’ vessels may be subject to physical damage (including war and confiscation) and loss of hire following a cyber incident.
However, the office based cyber risk should not be overlooked and the Astaara solution is to bridge the marine and cyber covers with a single, high-quality event management following a cyber incident, in order to protect the whole business. Equally ship managers may be unable to perform their contractual duties following a cyber incident and the Astaara policy can help all maritime enterprises with both first and third party insurance in this scenario.
The Astaara Marine & Enterprise Cyber Perils Insurance is designed to cover the effects of a cyber incident affecting any computer system, service, or network which is controlled by the Insured.
Our cyber incident response is backed up by our global partnerships with Crawford and HFW. Cover is available on a global basis, subject to individual national requirements.
Cover can be scaled and may be included for:
- Vessel physical damage
- Loss of hire
- War Confiscation
- Cyber defence & remediation (including public relations costs)
- Data restoration costs
- Loss of personal data and breach of privacy legislation
- Loss of revenue / business interruption
- Cyber crime, including ransomware
- Allowable civil fines and penalties
- E-theft
- Port deviation expenses
- Dependent organisation coverage
Astaara Underwriting UK Limited is an appointed representative of Davies MGA Services Limited, a company authorised and regulated by the Financial Conduct Authority under firm reference number 597301 to carry on insurance distribution activities. Astaara Underwriting UK Limited is registered in England and Wales company number 12570450. Registered office at 5th Floor 20 Gracechurch Street, London, United Kingdom, EC3V 0BG.
