Over the years, high-profile incidents such as the USS Cole bombing and Achille Lauro have led maritime security to be placed at the forefront of international concern, in order to protect trade, national security and retain stability across the global economy. However, despite significant efforts to address criminal activities across the maritime domain, the increased sophistication and capabilities of technology render the new threat of cyber-attacks a significant problem for global business.
After a quick look at cybersecurity as a whole, we will delve into three key issues in the maritime security world. Firstly, we will consider the commercial impact of cyber-attacks upon global businesses. Secondly, the increasing demand for maritime insurance in this area and thirdly, how Astaara Company Limited (a maritime insurance company) has accepted the challenge to fulfil these growing demands by providing “game-changing” cybersecurity insurance services across the maritime domain.
Where cybersecurity attacks are continuing to grow in sophistication and frequency, the future of maritime security law and insurance resides in protecting against such threats.