Page 21: of Maritime Reporter Magazine (April 2021)

ganization’s Cyber Security Guidelines at any point within the transit from minimise potential of theft and as a foundation, those involved in the origin to ? nal destination non-delivery of products distribution of vaccines will need addi- • For temperature-controlled ship- Any marine cargo insurance policies tional comfort that their transportation ments, how are the goods packed/ – even for experienced pharmaceutical providers are also compliant with other transported to minimise the poten- carriers – will need to be re-examined to guidelines and/or have a robust frame- tial for changes in temperature? ensure they will respond to the risks in- work in place to protect them from this • What security measures exist to herent in carrying these precious goods.

emerging risk.

Many marine cargo policies have multiple cyber exclusions that could rule out compensation for loss, damage, liability, or expenses stemming from an event with “malicious intent” to cause loss, whether directly or indirectly.

Also, ‘exclusion’ is a very broad term that is widely used in dedicated cyber policies, so insureds would be wise to

WORLD-CLASS VESSEL DESIGN ask whether their marine cargo policy

HIGH-VALUE SHIPYARD SUPPORT would protect them in the event of

TRUSTED CONSULTANT shortfalls brought about by any cyber- exclusion language.

Cyber cover has come under a bright- er spotlight since the Prudential Regula- tion Authority, which supervises about 1,500 ? nancial institutions including banks and insurance companies, made it mandatory from January 1, 2020, that contracts of insurance in the London market become af? rmative on cyber protection, as opposed to ‘silent’.

As such, the prospect of clients transporting volatile and highly valu- able COVID-19 vaccines will receive heightened scrutiny from the insurance community. In today’s market, marine

RIGHT WHALE-COMPLIANT insurers will want more details about 65 FT

WIND FARM SUPPORT VESSEL most of the links in their client’s supply chain and its third parties, before under-

A WORLD-LEADING SHIP DESIGN PORTFOLIO writing. These questions could include:

FOR THE U.S. OFFSHORE WIND INDUSTRY • Carrier and warehouse vetting pro- cesses

WIND FARM SERVICE OPS S • Details of any loss-control or risk-

SUPPORT VESSEL VESSEL management protocols and tools, such as GPS tracking devices,

ACCOMODATION BMT ACTIVE temperature-recording devices, etc,

TRANSFER VESSEL FENDER SYSTEM™ including whether those items are monitored by the policyholder’s

AN EXPERT PARTNER FOR ALL TYPES OF employees, or third parties, even in warehouses

MODIFICATION AND NEW SHIPBUILDING PROGRAMS • Details of contingency plans in the 703-920-7070 | [email protected] | WWW.BMT.ORG event of a conveyance breakdown www.marinelink.com 21

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