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Oil & Gas

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Specialist Cyber Protection: For Oil & Gas Firms

The Key Exposures Facing Oil & Gas Firms

Attractive to Cybercriminals

The energy industry is critical to modern economies, making oil and gas companies attractive targets for cybercriminals. Further, the oil and gas sector may be leveraged during geopolitical conflict by attackers motivated by political, economic, or strategic interests.

Operational Disruptions

Increased reliance on technology leaves oil and gas companies vulnerable to operational disruptions that not only cause significant revenue losses but have the potential to tarnish reputation.

Aging Infrastructure

Updates to equipment can be costly and time consuming. Legacy systems pose significant cybersecurity risk as software updates and patches have become more essential. Without the appropriate investment in updated infrastructure, systems are increasingly susceptible to exploits and attacks.

Guidance and Standards

The publicity and awareness surrounding recent cyber-attacks penetrating oil and gas companies have brought increased scrutiny to the industry. To help protect the industry from these events, enhanced guidance may develop around critical infrastructure.

How Our Specialist Coverages Respond To The Threats

  1. Broad definition of Dependent Business as a third-party entity that provides necessary products and services to the Insured Organisation pursuant to a written contract, including supply chainrelated interruptions
  2. Incorporates a qualifying period approach to business interruption coverage instead of a waiting period.
  3. Computer system definition includes technology such as Industrial Control Systems (ICS), Programmable Logic Controllers (PLCs) and Supervisory Control and Data Acquisition (SCADA).
  4. Third party liability coverage for bodily injury claims arising from cyber incidents, available up to $250,000 sublimit.
  5. Coverage for BYOD (bring your own device), as many on-site workers utilize their own mobile phones.
  6. Third party liability for failure to supply coverage arising out of cyber incidents.

Claims examples

How our policy supports clients for the duration of the claim

For more on suggestions to reduce risk and our appetite for Oil & Gas firms, download the PDF.

Speak to your local Underwriter to see which of your clients can benefit from our Oil & Gas endorsement.

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