WTW has launched a specialist ports and terminals cyber product. CyNav for Ports and Terminals is designed to address the specific cyber threats faced by port and terminal owners and operators, providing flexible and tailored cover for business interruption losses, including those arising from IT service providers, first- and third-party property damage, wrongful delivery of cargo, regulatory actions and crisis management expenses.
Ben Abraham, CEO global marine at WTW said: “Financial and reputational cyber risk can pose a real threat to port and terminal owners and operators. From listening to and understanding the challenges faced by this sector we developed CyNav for Ports and Terminals. This cyber solution – complemented by the development of the WTW Ports and Terminals Risk Forum, highlights how our global marine expertise delivers strategic solutions across the maritime industry.
Glyn Thoms, head of FINEX cyber GB at WTW added: “Cyber risks have a different profile depending on the industry sector. We are delighted to launch CyNav for Ports and Terminals, which illustrates WTW’s commitment to delivering solutions that are designed to meet the needs of specific industry sectors.
"The combined efforts of WTW’s ports and terminals and cyber teams have enabled us to develop a solution which responds to the risks and concerns that ports and terminals now face in a time of great technological and regulatory change for the industry."
The connected nature of the transport and logistics industries makes them an attractive target for hackers, with potentially disruptive and costly consequences. Listen to CIR's latest podcast on this topic, featuring experts from Tokio Marine HCC and WTW.
Image courtesy Port of Dover
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