CyNav is our cyber insurance solution for shipowners, awarded 'Cyber Broking Innovation of the year' at the insurance Insider Cyber Awards 2020.
The challenges shipowners face
Shipowners are increasingly reliant on technology for all aspects of a vessel’s operation and their shore-side activities. As inter-connectivity of that technology increases, cyber security has become a concern. The data protection and cyber security regulatory landscapes affecting shipowners are developing at pace. The shipping industry is therefore under greater obligation to comply with regulations or suffer potential financial consequences.
CyNav benefits
CyNav is a cyber solution specifically designed by our cyber and marine experts to provide an innovative, flexible and tailored cyber cover for shipowners. It addresses the growing need for an explicit marine cyber solution. This means, shipowners do not need to only resort to pre-existing cyber products, which may be too generic for their specific requirements.
Key features of CyNav cover:
- Loss of income due to business interruption (including any interruption to your third-party IT service providers)
- Crisis management expenses (including IT forensics, legal and PR fees)
- Hull and machinery damage
- Loss of hire due to hull and machinery damage
- Loss of hire due to vessel detainment
As the financial impact of cyber incidents continues to increase, and the ‘silent cyber’ cover in traditional marine cover is being reduced, CyNav’s clear and affirmative cyber solution is designed to plug any cyber gaps left behind.
Next steps
Get in touch and one of our WTW specialists will be on hand to help and advise you.
Disclaimer
WTW offers insurance-related services through its appropriately licensed and authorised companies in each country in which WTW operates. For further authorisation and regulatory details about our WTW legal entities, operating in your country, please refer to our WTW website. It is a regulatory requirement for us to consider our local licensing requirements.
