The Swedish Club has declared the conclusion of the trial period for its Marine Cyber Insurance by 31st March 2024. This significant announcement underscores the necessity for members and brokers to take necessary steps to continue their insurance coverage.
With the increasing connectivity of vessels, a rise in cyber threats, and tightening cyber security regulations, The Swedish Club’s initiative to provide Marine Cyber Insurance to all members has been met with acclaim. However, those wishing to maintain this coverage must confirm their interest by completing either the Cyber Basic or Basic Plus questionnaires before March 31st, 2024. Failure to do so will result in vessels no longer being insured against cyber risks under the Marine Cyber Insurance. The questionnaire and product sheet can be found here.
The Cyber product offered by The Swedish Club stands out for its unique combination of affirmative and primary cover, extensive scope, and competitive pricing in the market. By continuing the insurance, vessels are shielded against Physical Damage resulting from cyber-attacks, including Loss of Hire, which are often excluded in standard policies. Additionally, access to 24/7 Emergency Response Services is provided when vessels encounter cyber threats.
The Marine Cyber Insurance service provided by The Swedish Club emerges as a leading solution in cybersecurity, and it is emphasized that individuals interested in continuing this coverage must take the necessary steps before March 31st.
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