BIMCO Cyber Security
BIMCO Ch10: Respond and Recover

BIMCO Cyber Security 10.6: Losses arising from a cyber incident

Insurers treat risk assessment and mitigation as a precondition of cover and ask ever more about cyber programmes; economic loss and data rebuilding are generally uninsured, though stand-alone ransomware products exist. Companies should be able to show reasonable care in managing cyber risk. Property cover varies: exclusions such as CL380 or the American Institute cyber exclusion clause, silent cover under scrutiny, or buy-back for extra premium, so check policies in advance and expect insurer questions. Consult the P&I Club on liability: a cyber-caused malfunction does not in itself exclude normal P&I cover, but many cyber losses are not third-party liabilities, and war and terror exclusions may catch state-linked attacks. Standard cyber security clauses for charter parties are available and emphasise sharing incident information.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

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