SINGAPORE, May 24, 2022 — Three factors – an increased reliance on technology, heightened cyber-threat activity and gaps in insurance cover, drive the need for specialist cyber coverage for ports and terminals. That need is now met by CyNav for Ports and Terminals, a new cyber solution from WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company.
CyNav for Ports and Terminals is designed to address the specific cyber threats faced by port and terminal owners and operators. It provides both flexible and tailored cover for business interruption losses including those arising from IT service providers, first- and third-party property damage, wrongful delivery of cargo, regulatory actions and crisis management expenses.
Ben Abraham, CEO Global Marine at WTW said: “Financial and reputational cyber risk can pose a real threat to port and terminal owners and operators. From listening to and understanding the challenges faced by this sector we developed CyNav for Ports and Terminals. This cyber solution – complemented by the development of the WTW Ports and Terminals Risk Forum, highlights how our global marine expertise delivers strategic solutions across the maritime industry."
“In the face of today’s cyber threat landscape, it is crucial that port operations build up their cyber resilience and have the capacity to recover quickly when faced with cyber-attacks.”
Lewis Hart | Head of Marine, Asia, WTW
Lewis Hart, Head of Marine Asia at WTW said: “Asia is home to nine of the world’s 10 busiest ports and a crucial part of the world’s supply chains for all major sectors from automotive to industrial goods, pharmaceuticals and electronics. The ramifications of a major cyber event cannot be underestimated. In the face of today’s cyber threat landscape, it is crucial that port operations build up their cyber resilience and have the capacity to recover quickly when faced with cyber-attacks.
Port operations in Asia are also diverse in their complexity and often seen as an easy target by hackers due to a myriad of technical systems and controls across various locations. CyNav for Ports and Terminals is a flexible solution designed around the complexities of Port Authorities, maritime companies, customs and other complex linear infrastructures that make this sector increasingly vulnerable to cyber breaches today.”
CyNav for Ports and Terminals is flexible to match each client’s needs, simple to understand and designed by cyber and marine specialists to address the specific challenges faced by the industry. As critical infrastructure, ultimately CyNav protects ports and terminals supporting the continuance of world trade and its global supply chain.
Learn more about CyNav for Ports and Terminals.
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