Astaara, the Guernsey-based integrated insurance services and risk management advisory business, announces a significant milestone in its cyber underwriting offering. The company has increased its policy limit to US$27.5m and reached 100% of the underwriting security, achieving a rating of A‑ or better.

Astaara’s underwriting capacity has also increased from US$25m in April 2023 to US$27.5m today. This upgrade continues to underscore the company’s commitment to delivering robust, high‑quality cover to maritime operators, offshore marine contractors, shipowners, ports, and terminals globally.

The A‑ or better rating reflects the increased attractiveness of the Astaara offering to underwriting markets seeking profitable growth, and supports significant commercial opportunities globally. The rating represents an overall quality standard applied across the capacity, in partnership with the leader of the programme Liberty Mutual Insurance Company, spanning the aforementioned markets.

This comes at a time when maritime cyber risks continue to evolve worldwide, including threats of geopolitically driven cyber-attacks, with NATO warning of increases in state-linked cyber activity on Europe’s civilian ports, exposing critical gaps in maritime defence.

Under Astaara’s model, cyber risks – including those classified as terrorism or state backed – are not excluded, providing broader and more reliable cover options. The firm’s advisory and analytics capabilities support clients in enhancing their cyber readiness and maintaining compliance throughout each policy period.

Robert Dorey, Group CEO of Astaara, commented: “With this larger and higher quality capacity, we reaffirm our leadership in marine cyber risk underwriting. Our clients now benefit from higher limits backed by top-tier underwriting capacity. Astaara has become best-in-class by working closely with each client to build cyber security maturity and standing alongside clients when they have claims.”

Astaara’s comprehensive integrated service spans cyber risk advisory, underwriting, and a dedicated real-time analytics capability to serve marine, offshore and port sectors. This consistency ensures cyber risks can continue to be effectively identified, managed and mitigated, even in an increasingly hostile cyber environment.

The recent news about Astaara’s expanded underwriting capacity and A- or better rating follows an increase from US$12.5 million in 2020 to US$25 million in April 2023. The firm also received a significant investment from the West of England P&I Club in 2020.