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WTW launches cyber coverage for ports & terminals

27th May 2022 - Author: Jack Willard

Leading advisory and broking solutions company, WTW has released a new specialist cyber coverage for ports and terminals.

WTW - Willis Towers Watson logoCyNav for Ports and Terminals is designed to address the specific cyber threats faced by port and terminal owners and operators.

The coverage provides flexible and tailored cover for business interruption losses, including those arising from IT service providers, both first and third-party property damage, wrongful delivery of cargo, regulatory actions and crisis management expenses.

Moreover, CyNav for Ports and Terminals is also flexible to match each client’s needs, as well as being simple to understand, and designed by cyber and marine specialists to address the specific challenges faced by the industry.

“Financial and reputational cyber risk can pose a real threat to port and terminal owners and operators”, said Ben Abraham, CEO global marine at WTW.

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“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.”

Glyn Thoms, head of FINEX cyber (GB) at WTW added: “Cyber risks have a different profile depending on the industry sector. We are delighted to launch CyNav for Ports and Terminals, which illustrates WTW’s commitment to delivering solutions that are designed to meet the needs of specific industry sectors. The combined efforts of WTW’s ports and terminals and cyber teams have enabled us to develop a solution which responds to the risks and concerns that ports and terminals now face in a time of great technological and regulatory change for the industry.”

Meanwhile, WTW recently released an upgraded version of its loss reserving and financial reporting software, ResQ.

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