American Club and ABSG on “A Primer Security Risk Management Guidelines”

In 2017, the International Maritime Organization (IMO) issued a circular containing guidelines on maritime cyber risk management and, the following year, adopted a resolution aimed at helping the shipping industry safeguard operations from potential cyber attacks or cyber-related incidents. The IMO resolution recommends that organizations address cyber risks in their safety management system (SMS) no later than the first annual verification of the company’s Document of Compliance as of January 1, 2021.

While the 2017 IMO resolution only “encourages” cyber risk management (CRM) compliance, it is important to understand that cybersecurity is essential to every business and critical to the safety, integrity and reliability of maritime assets and operations.

While adopting IMO’s proactive guidelines supports effective cyber risk management practices, it is recommended that organizations build a comprehensive set of cybersecurity capabilities to facilitate the appropriate levels of conformity with international standards and/or flag and port administration requirements.

In that effort, the American Club has teamed with its industry partner, ABS Consulting to publish Safety, Risk and Compliance Management: A Primer on IMO Cyber Risk Management Guidelines to assist in assessing a Member’s cybersecurity readiness.

Furthermore, your Managers will be making available to Members exclusively, by a separate Member Alert, access to a cybersecurity readiness review questionnaire. Members are encouraged to complete the questionnaire to gain a greater insight into what further actions may be necessary for Members to best address cyber risks.

As always, your Managers will be pleased to respond to all inquiries arising from the above. Any Member who has not received access to the readiness review should get in touch with Dr. William Moore, Global Loss Prevention at William.moore@american-club.com.