Cyber threats in the maritime sector: have all scenarios really been considered?

The Bordeaux-based maritime insurer Adam Assurances has published a study on cyber risks affecting the maritime sector (available here as a blog article and here in PDF format).

After recalling the digital transformation underway across the maritime industry and the growing dependency that accompanies it, the insurer reviews several cyber incidents that have already affected the sector (MSC, COSCO, Maersk, among others).

Building on the key findings of the CyRiM study (see this article from November 2019 discussing it, the report then examines the Shen Attack scenario described in that analysis. Applied to the maritime sector, the scenario estimates that a large-scale cyberattack could impact up to 15 ports in Asia.

After outlining the potential financial consequences for various economic sectors, the insurer concludes that cyber risks should likely be included in “all-risk” insurance policies applicable to maritime activities.