Aspen U.S. Head of Marine, Pat Hickey, Featured in October issue of NU

This month's issue of National Underwriter includes the Ocean Marine Market Update, which addresses several, key issues impacting the marine sector and insurance industry today and moving forward. While it's important to navigate turbulent and changing market conditions prudently, the article advises brokers and agents to look at emerging risk areas, including cyber, politics, climate change and piracy, as opportunities for providing guidance and risk management expertise to their insureds. 

Cyber threats (e.g., hacking, malware attacks and GPS spoofing) to systems such as communications, engineering, safety and environmental controls, are challenges the marine industry needs to take very seriously. Pat Hickey, Aspen Insurance U.S. Head of Marine, said: "The marine sector must work together to protect against these additional modern-day perils."

As technological advancements continue to pave the way for progress in the marine industry, companies will need to better understand their cyber risks and the types of investments that will be required to mitigate long-term risks and exposures.

Read the full Ocean Marine Market Update here which appears on pages 28-31 of the October issue of National Underwriter.