The American Club joined forces with ABS launching Managing Cyber Risks and the Role of the P&I Club: An Overview report, focusing on a range of exposures associated with cybersecurity.
The report explains several questions that have been raised in the shipping industry concerning cyber incidents, such as “how would P&I insurance respond to a cyber risk event once it materializes?” or “What can shipowners do to prevent and mitigate cyber risks in such cases?”
It is highlighted that cyber risks can create any number of shipboard problems for the Master and crew, such as, but not limited to:
- Distracting the attention of the Master and crew who have other tasks to take care of by creating a backlog of work.
- Backing up files is time consuming and may require sending IT personnel to the vessel to assist adding to costs.
- Loss of historical data of the ship permanently could mean losing vital safety and maintenance records.
- If locked out of applications this could prohibit the vessel from using navigational aids such as tides and currents programs, cargo programs, safety and maintenance programs, alarm
systems, chart correction programs and emails. On cruise ships this could include the passenger manifests as well.
- Crew and passenger personal information is at risk of exploitation.
- Loss of control of automated programs such as autopilot, alarms, machinery control panels
- Delay of ship’s departure to bring vessel back to operationally safe status.
- Interruption of cargo loading or discharge operations.
- Interruption of navigational or critical machinery systems that could potentially lead to a grounding, collision damage to third party property as well as personal injury and a pollution incident.
The report discusses a number of cyber incidents and explains how a P&I club covers a shipping company and deals with an attack.
To learn more click on the report herebelow