Study On Legal Issues Of Maritime Cyber Risk Underwriting By Shipowners Protection And Indemnity Mutual Clubs

As a new and extensive risk in the maritime industry,marine cyber risk has the characteristics of multiple,serious damage consequences and complexity of underwriting,and the demand for marine cyber insurance is also rising.However,the underwriting of maritime cyber risk is still in its infancy,and it is highly likely that reinsurance will introduce a cyber risk exclusion clause,which will inevitably lead to greater uncertainty in the underwriting arrangements of Shipowners Protection and Indemnity Mutual Clubs.In current theories,there is a lack of in-depth research on the intersection of Shipowners Protection and Indemnity Mutual Clubs and maritime cyber risk,and in practice,Shipowners Protection and Indemnity Mutual Clubs has not yet formed a clear insurance policy on maritime cyber risk,but its characteristics of mutual assistance and guarantee require that it should fully respond to the needs of the maritime industry.When exploring the feasibility and specific implementation of the insurance coverage for maritime cyber risk listed by Shipowners Protection and Indemnity Mutual Clubs,the underwriting elements are the first part to be determined,and the legal governance and risk sharing measures both create conditions and optimize the environment for the implementation of specific insurance.Underwriting elements are the most directly related to the content of underwriting marine cyber risk listed by Shipowners Protection and Indemnity Mutual Clubs,and the analysis and presupposition of this content are also intended to prove the concrete feasibility of underwriting.Firstly,from the perspective of economic and legal interests,this paper demonstrates that members enjoy insurance benefits under maritime network security accidents.Secondly,for the delineation of insurance coverage,the definition of the concept of maritime cyber risk is an important prerequisite.Although it is difficult to define it accurately and uniformly at present,the initial definition of the concept of maritime cyber risk can be completed by summarizing the similarities and differences between maritime cyber risk and other similar concepts.On this basis,combined with the insurance clauses of the Shipowners Protection and Indemnity Mutual Clubs,the types of Marine network systems and the common cyber risk exclusion clauses,the elaboration of the coverage is completed.Finally,the liability of Shipowners Protection and Indemnity Mutual Clubs in maritime network security accidents is clarified by combing the complex situation caused by multiple reasons,including cyber risk,and using the recency principle.Legal governance is the external support to ensure that Shipowners Protection and Indemnity Mutual Clubs underwrites marine cyber risk,and is an important link to fundamentally promote the listing of insurance and the construction of marine cyber risk underwriting system.First of all,the legal status of Shipowners Protection and Indemnity Mutual Clubs is related to the guarantee of supervision mechanism under new risk and the fairness of market competition,which is a decisive factor for the healthy development of Shipowners Protection and Indemnity Mutual Clubs underwriting maritime cyber risk.Secondly,the construction of maritime network security environment can also promote the unification of maritime cyber risk assessment standards and the benign development of underwriting policies,to a certain extent,reduce the possibility of huge claims paid by Shipowners Protection and Indemnity Mutual Clubs,and provide a reference for the network insurance market.Risk sharing measures are an important guarantee to maintain the underwriting stability of Shipowners Protection and Indemnity Mutual Clubs on the basis of the underwriting of marine cyber risk specified by the association.Although the Shipowners Protection and Indemnity Mutual Clubs carries the common needs and wishes of its members,it must find new measures of risk sharing in the face of the possibility of reinsurance escape.The method of reasonable use of the liability limitation system is realistic and can be implemented in a short time.At the same time,the possibility of compensation liability and limitation of liability for damage caused by maritime cyber risk should be considered,and the liability of Shipowners Protection and Indemnity Mutual Clubs for maritime cyber security accidents should be gradually limited to a certain range.