Should You Insure Your Data?
Why Data Insurance Is a Must
Imagine this: Your shipping company is running smoothly. Crew schedules are set, documents are stored on the cloud, and everything feels under control. You’ve followed all the right steps—VAPT testing, encryption, and password policies.
So, you’re safe, right? Not always.
Cloud Storage Doesn’t Mean Guaranteed Safety
Just because your data is hosted on the cloud doesn’t mean it’s completely secure. Yes, cloud platforms come with multiple security layers—OWASP standards, encryption, access controls—but breaches still happen. The truth is, no system is 100% secure. And in today’s maritime industry, where operations rely heavily on digital files, losing data can be just as damaging as a collision at sea.
Hackers are ahead of technology. They are always looking for new ways to exploit systems, often faster than companies can update or patch them. Old versions have some weak points that hackers can use to attack. That’s why new versions are made — to fix those problems and give better protection.
Hackers are ahead of technology. They are always looking for new ways to exploit systems, often faster than companies can update or patch them. Old versions have some weak points that hackers can use to attack. That’s why new versions are made — to fix those problems and give better protection.
In 2022, a European fleet management shipping company lost 18 months of crew documentation due to a ransomware attack. Port agents had no access to certificates. Payroll was delayed. The crew couldn’t sign off on time. The total loss? Over $800,000 in penalties, delays, and legal claims.
The worst part? They had cyber protection, but no data insurance.
So, What Exactly Is Data Insurance?
Data insurance is a safety net. It helps you recover costs related to data loss, cyberattacks, and even system failures. Think of it like hull insurance—but for your digital assets.
Why Maritime Companies Can’t Afford to Ignore This
Even if you’ve:
Done penetration testing (VAPT)
Followed OWASP security principles
Encrypted sensitive crew files
Limited access through user roles
You are still at risk. Threats evolve. Human error happens. And hackers don’t care how many policies you’ve followed.
That’s why data insurance isn’t just for meeting rules—it helps keep your business running when something goes wrong. It covers financial losses from system downtime, helps recover or restore deleted data, and protects you from heavy fines under regulations like GDPR or IMO cybersecurity rules. It also supports third-party claims if partners or vendors are affected, helping you maintain trust and business continuity.
Don’t Just Protect. Insure.
You handle sensitive data every day. If that data is lost or locked by a cyberattack, the damage isn’t just financial—it affects your people, operations, and trust.
So, ask yourself: Have you truly protected your data, or just assumed it’s safe?
In today’s shipping industry, smart companies don’t just protect data. They insure it.
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