Willis Tower Watson (WTW), a global advisory, broking and solutions company, has launched a cyber solution for ports and terminals.
WTW provides data-driven, insight-led solutions in the areas of people, risk and capital, aiming to help organisations sharpen their strategy and maximise performance.
The coverage – CyNav for Ports and Terminals – is designed to address the specific cyber threats faced by port and terminal owners and operators. It provides flexible and tailored cover for business interruption losses, including those arising from IT service providers, first and third-party property damage, wrongful delivery of cargo, regulatory actions and crisis management expenses.
According to WTW, an increased reliance on technology, heightened cyber threat activity, and gaps in insurance cover, have driven the need for specialist coverage.
Ben Abraham, CEO global marine at WTW said, “Financial and reputational cyber risk can pose a real threat to port and terminal owners and operators. From listening to and understanding the challenges faced by this sector we developed CyNav for Ports and Terminals. This cyber solution – complemented by the development of the WTW Ports and Terminals Risk Forum, highlights how our global marine expertise delivers strategic solutions across the maritime industry.”
Earlier this year, WTW partnered with InsurTech Tempcover to deliver a usage-based automotive insurance solution for the digital generation. The partnership will see WTW’s insurance rating software Radar Live be licensed as Tempcover’s price delivery and decision engine platform.
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