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1 in the United States and tied for second Distributed Threats.” also continue to be important elements among marine and shipping executives. At Allianz, tracking developments to in maintaining a proactive operational

Cyber also ranks as the most underesti- help chart a safe course remains a key pro? le that allow our business partners mated risk and the major long-term peril focus. Training, education and planning to address the complex risks they face. across all regions and industries.

Recent events such as the WannaCry and Petya ransomware attacks brought signi? cant ? nancial losses to a large number of businesses. Others, such as the Mirai botnet, the largest-ever dis- tributed denial of service (DDoS) attack on major internet platforms and services in Europe and North America, at the end of 2016, demonstrate the interconnect- edness of risks and shared reliance on common internet infrastructure and ser- vice providers.

On an individual level, recently identi- ? ed security ? aws in computer chips in nearly every modern device reveal the cyber vulnerability of modern societies.

The potential for so-called “cyber hur- ricane” events to occur, where hackers disrupt larger numbers of companies by targeting common infrastructure depen- dencies, will continue to grow in 2018.

The concerns addressed by the Risk

Barometer respondents are also being expressed by other concerns, not just business interests. This is especially true on the Cyber Risk front. On Janu- ary 5, 2018, the U.S. Government De- partments of Commerce and Homeland

Security released a draft report focusing on “Enhancing the Resilience of the In- ternet and Communications Ecosystem

Against Botnets and Other Automated,

The Author Capt. Andrew Kinsey

Kinsey is a Senior Marine Risk Consultant with Allianz Global Corporate & Specialty.

He spent 23 years in the U.S. Merchant

Marine and U.S. Naval Reserve, sailing in all licensed ranks, including Master. After coming ashore in 2006, Andrew worked as an independent Marine Surveyor. He is a 1984 graduate of the United States

Merchant Marine Academy. www.maritimelogisticsprofessional.com 15

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