Marine insurers hit by rising GPS jamming claims

Singapore’s marine insurers are facing higher costs as GPS spoofing and jamming incidents spread across major shipping lanes, pushing shipowners to adopt stronger cyber security and prompting underwriters to rethink how they price digital risk, according to Lars Lange, secretary general of the International Union of Marine Insurance, Insurance Asia reported. The Singapore Shipping Association’s SCISSOR program is helping fill the protection gap by offering cyber coverage that traditional marine policies often exclude, including ransomware losses, operational downtime and theft from system breaches.