Astaara opens doors promising to modernise cyber insurance for the maritime industry
A new insurance services business called Astaara Company has launched to protect maritime companies from cyber threats.
The Guernsey-based business comprises three units: Astaara Risk Management, Astaara Underwriting and Astaara Analytics. The analytics operation supports the risk management and underwriting activities, but all share a single balance sheet.
Astaara’s platform, AstaaraCyber, enables shipowners and ports operators to improve their cyber resilience, making them a harder target for attackers. Astaara vowed to constantly challenge its model, ensuring it continues to respond to the ever-changing cyber threat.
More appointments will be announced in due course, Astaara said.
James Cooper, managing director at Astaara, said: ‘We are recruiting leaders in their field to provide real value-add advice and direction to our clients so they can improve their cyber security posture.”
He added: “Cyber incidents impact all parts of a business and AstaaraCyber will make our clients more resilient and improve their recovery.”
Robert Dorey, group chief executive at Astaara, said cyber insurance for the maritime market is too siloed and has not kept up with the needs of the industry. ‘The insurance business is behind the times when it comes to cyber threats to maritime companies,” he said. “It is only by listening to and responding to what the maritime community needs that you can create a solution that is relevant and necessary.”