Shoreline is gearing up to launch a new insurance covering both cyber and commercial crime risks facing shipowners and other maritime operators.
The Bermuda-based insurer — best known as a provider of certificates of financial responsibility (COFR) guarantees for ships trading to the US — is teaming up with the XL Catlin group in the Lloyd’s of London market to offer up to $40m of cover that makes no distinction whether the loss is from a cyber-attack or fraud, or both.
