Recently launched Guernsey-based insurance services and risk management advisory business Astaara has secured a significant investment from maritime insurance provider the West of England Protection and Indemnity Club.
Astaara CEO Robert Dorey (pictured) commented: "This investment recognises the underlying demand for marine cyber specialist insurance services and validates the approach of Astaara in addressing the gaps in the existing marine and cyber insurance market.
"The current market conditions are unparalleled in terms of health threats due to global pandemic – to ports, ships crews and head office operations.
"This has forced marine operators to be more reliant than ever on digitisation, and this is already against a backdrop of ever-increasing sophistication of cyber-attacks which disrupt supply chains, and stakeholders’ confidence in their investments."
West's Group CEO, Tom Bowsher, said: "We have full confidence in Robert and the team, and the Astaara product, which in our view is the only comprehensive and integrated cyber solution that properly aligns the service that owners need with genuine experience, expertise and commitment."