Yacht: Cyber Threat and Extortion

Cyber-crime is a real and present threat in the digital age. Yacht owners are not immune as the maritime sector faces a multitude of emerging and present cyber extortion threats.

The increasing trend of networking information technology and operational technology onboard yachts and within port control systems has increased the sector’s vulnerability.

Cyber Extortion comes in many forms including ransomware and denial of service, to threats to disclose customer data, private data or other confidential information. The financial amount involved is one thing, but such demands also exert enormous pressure on companies and loss of reputation is a real threat. Choosing a partner who can assist and respond when the need arises is an important first step in alleviating this.

This new product from Norwegian Hull Club protects against cyber threat and extortion for the Assured and its related subsidiaries covering the costs of extortion payments; and crisis consultants and other actors as deemed reasonable and necessary: negotiator, public relations consultant, interpreter, reward and other miscellaneous expenses. It also includes a Preventive Crisis Consultation, providing a Crisis Management Plan for the prevention of and response to insured events.

The critical element of this new insurance is our capability to respond and assist clients in case of cyber-attacks. To secure excellence we have established a partnership with NYA International, a well-established, leading global risk and crisis management consultant, for cyber extortion response, crisis management and loss prevention services.

Cyber Extortion Crisis Management:
  • Operation of a 24/7 dedicated hotline specifically for cyber incident response.
  • Response Consultants with comprehensive experience in cyber extortion, crisis and threat management, and crisis communications.
  • Associates specializing in forensic investigations, assessments and restitution of networks/systems.
  • Advice on the consultation and engagement of legal advisors and any potential compliance issues.
Cyber Extortion Services:
  • Cyber internal threat assessment
  • Crisis management plans
  • Cyber extortion awareness work shops
  • Cyber extortion training/simulation/exercises