Cyber – Clause 380 buy-back

Marine insurance policy wordings ordinarily include the “Institute Cyber Attack Exclusion Clause” [10/11/2003], commonly known and referred to as “Cl.380”:

"...in no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from the use or operation, as a means for inflicting harm, of any computer, computer system, computer software programme, malicious code, computer virus or process or any electronic system."

Norwegian Hull Club's Cyber insurance is the first of its kind in the market with a unique two level approach:

  1. A policy providing cover for incidents that would otherwise not be recoverable due to the Cl.380 exclusion. 
  2. Loss prevention and operational intelligence service focusing on:
    • The BIMCO Guidelines on Cyber Security Onboard Ships
    • Cyber Awareness
    • Norwegian Hull Club Cyber Loss Prevention Assistance
    • Norwegian Hull Club Cyber Response 

The possibility of cyber-attack against a vessel or land-based organization is a real and increasing threat for the shipping industry.

Shipping has never been more technically advanced, not only onboard sophisticated vessels and offshore units, but throughout the entire chain of owner's and operational offices, (sub) contractors and commercial partners. There are significant security issues linked to navigational systems, engine management, cargo management, ship management, commercial operations and crew or staff using the internet.

Raising awareness and choosing partners who can assist and respond when the need arises is an important first step.

Norwegian Hull Club – the Preferred Leader

When placing insurance with Norwegian Hull Club as Leader, an Assured has access to claims handling experience, service levels and competence of the highest quality. We handle claims and critical situations in the most professional way. We prioritize and make claims settlements much quicker than the industry average, through practical, solution driven claims handling and involvement from notification to final payment. We encourage teamwork together with the Assured and the broker.

Our world-leading contingency support and operational intelligence services are developed from handling 2.000 claims every year. We organize a wide variety of loss prevention activities for both ship and shore based staff, sharing experience from actual incidents, aimed at improving industry best practice.

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