Current metrics indicate that cyber insurers are facing a deluge of claims, unfortunately this may mean that the scope of cover currently available in the market may become ever more restrictive, the price of the cover will increase and existing insurers may have less appetite for the risk.
Shoreline’s Maritime Cyber Insurance (MCI) facility, backed by A rated re-insurers at Lloyd’s, was renewed April 2021 and its rates are now fixed through to April 2022. Shoreline’s clients can take advantage of some of the best maritime cyber insurance rates going forward. Read more here.