Tag: Allianz

Cyber security has been a major challenge for shipping in the past years. Growing connectivity networks and digitalization efforts modernize shipping but also pose a serious threat to its integrity when targeted by malicious attacks.

According to Allianz Safery and Shipping report 2023, decarbonization of shipping is now well underway, but the pace of these efforts is influenced by range of factors, including green technology, regulation and market forces.

Allianz Safety and Shipping Review report highlights that fire is the second top cause of loss over the past year with 8 vessels lost and more than 200 incidents reported – the highest for a decade.

According to Allianz, the energy crisis arrives in the top 10 global risks for the first time at #4, at its Risk Barometer, as the world grapples with spiraling fuel costs, supply disruptions, inflation, and the effects of Russia’s invasion of Ukraine.

In its latest Risk Barometer, Allianz reports that cyber risks, such as IT outages, ransomware attacks or data breaches, rank as the most important risk globally (34% of responses).

Allianz Risk Barometer 2023 focuses on stability and change. Namely, Cyber incidents and Business interruption rank as the biggest company concerns for the second year in succession (both with 34% of all responses).

Fire and explosion incidents cause the most expensive insurance claims in the marine industry, while at a time of rising exposures and inflation, cargo damage is the most frequent cause of loss, according to Allianz Global Corporate & Specialty (AGCS).

In a new report, cyber insurer Allianz Global Corporate & Specialty (AGCS) analyzes the latest risk developments around ransomware and outlines how companies can strengthen their defenses with good cyber hygiene and IT security practices.

Ransomware remains a top cyber risk for organizations globally while business email compromise incidents are on the rise and will increase further in the ‘deep fake’ era, says a new report from Allianz Global Corporate & Specialty (AGCS).

Capt. Randall Lund, Allianz’s Senior Marine Risk Consultant, Marine Loss Control, refers to industry’s key challenges and ways to move forward. With regards to decarbonization, Capt. Lund explains that Allianz has accelerated a net-zero timeline goal from year 2050 to 2030 and encourages whole industry to move up the timeline to meet the net zero emission standards.