Cyber Insurance in the Maritime Transportation System

The current cyber insurance model is poorly suited for and does not aid the cyber resilience of the maritime transport system. Traditional maritime insurance increasingly exempts cyber claims from policies making cyber insurance a necessity for protecting against cyber risk. With an ever-growing number of cyber events in the maritime transportation system, effective cyber insurance is a necessary investment. Our paper attempts to address this disconnect by analyzing the current cyber insurance marketplace in the maritime transportation system and identifying challenges and opportunities that aim to increase resilience.