The introduction of digitalisation to shipping and the increasing interconnectivity and automation both ashore and aboard inevitably bring new risks related to cybersecurity. These add to already existing dangers such as piracy, terrorism, and war risks.

This paper will examine whether there is a distinguishing difference between cybersecurity breaches and cyber-attacks. This may involve a consideration of timing, whether one is a prerequisite for the latter, or if they can (co)exist separately, and if these two events can be perceived as distinct risks. After that, the paper will review the existing coverage available for the risks of piracy, terrorism, and war. The paper will consider if the new emerging risks can be included in broader definitions of the existing concepts and, therefore, be covered even though they will include the involvement of cyberspace and digitalisation.

The new emerging kinds of piracy and terrorism involving cyberspace may mean that existing insurance coverage is not fit for purpose. This paper will examine a new category of risks called ‘cyber-piracy’ and ‘cyber-terrorism’, which may be created with tailor-made coverage.

This paper will study the actual impact of cyber insecurity and the vulnerability of existing systems. Finally, based on a review of the existing literature, the paper will seek to answer who will most likely undertake the costs of these new risks.