SMF and the General Insurance Association of Singapore (GIA) jointly organised the 36th Maritime Knowledge Shipping Session (MKSS) on 17 January 2018 and touched on the topic of Disruptive Technologies and Cyber Risks.

Guest speakers for the session were Ms Maite Bolivar Klarup, General Manager of the Singapore Baltic and International Maritime Council (BIMCO), Mr Andreas Schmitt, Head of Cyber, Asia Pacific of Munich RE, and Mr Michael Hauer, Head of Marine, Asia Pacific of Munich RE. With 17 years of international maritime experience, Ms Maite’s presentation on “Taking Maritime Cyber Security Seriously” touched upon the growing threat of cyber-attacks in maritime and shared practical steps on how ship managers, owners and charterers can take to avoid these risks.

Mr. Schmitt and Mr. Hauer gave a joint presentation on “Exposures in the Shipping Logistic and Offshore Energy Industry and insurance solutions on the horizon” and outlined the potential insurance solutions that Munich RE can offer to the different risks that cyber-attacks raise. Mr Hauer’s extensive experience in Munch RE spans across 26 years, and has held positions in Beijing, Shanghai and Hong Kong, before heading Munich RE’s Marine Underwriting centre in Singapore in 2017. Mr Schmitt joins Munich RE with a different breadth of experience, assuming responsibilities in Australia under the Casualty Treaty and Facultative portfolio for Australia and New Zealand, before his current role as Head of Cyber Asia Pacific.

The session ended with a Q&A segment where participants were given the chance to raise any questions that may have to the speakers. The session was moderated by Mr Michael Gourlay, GIA Management Committee Member and Marine Insurance Committee Convenor.