Cyber Insurance

“With vessels becoming increasingly connected to shore through digital technologies, the threat of shipping being targeted by cyber criminals has heightened”, says Thomas Nordberg, Managing Director of The Swedish Club. “The financial, and possibly also environmental and human implications of a cyber attack are far-reaching. IMO together with IACS have taken a leading role in addressing cyber risk management through unified requirements (UR) E26 and E27 that incorporate cyber resilience in Safety Management Systems.”

What is covered?

The Swedish Club Cyber Marine Cover is provided to our members on a yearly fleet aggregate limit basis and is in the form of an affordable Cyber insurance cover providing various levels of protection.

The product will provide an affirmative and primary cover for cyber risks, which means it is a named peril cover that takes precedence over other covers.

Protecting Against Digital Perils

Our Cyber Marine Cover safeguards your vessels against physical damages resulting from cyber attacks, a critical area often excluded in standard policies. This policy is a proactive step towards ensuring the safety and operational continuity of your maritime activities in the face of cyber threats.

The product offers a complete solution to your Marine Cyber exposure – emergency response following a cyber attack on your vessel, physical damage cover if the cyber attack causes damage to the vessel and loss of hire cover to protect you from operational downtime.

Key Features

• Emergency response services in the event of a cyber attack.
• Cover for vessel Physical Damage: Protects your assets against cyber risks excluded by other policies
• Cover for RDC / FFO risks: Protects your assets against collisions and contact claims caused by cyber risks
• Cover for Physical Damage Loss of Hire: Mitigating the financial impact of operational downtime caused by cyber attacks
• 24/7 Expert Support: Access to professional assistance for recovery and restoration when needed
• Tailored Solutions: Possibility for comprehensive extensions to best suit your fleet’s needs

Our Cyber Marine Cover is offered to both members and non-members on competitive terms, with a structure of 3 separate available packages depending on the level of cover needed:

• Basic
• Plus
• Comprehensive

The Club has partnered with leading experts in the field to develop this new insurance and tailored the packages to meet the diverse needs of members. In addition, in the event of an incident, members can take advantage of a 24/7 hotline manned by cyber specialists.

For more details, please get in touch with your local Underwriting Team or:

Thorbjörn Emanuelsson, Director Underwriting, thorbjorn.emanuelsson@swedishclub.com

Tord Nilsson, Head of Reinsurance, tord.nilsson@swedishclub.com