New ABS Model Offers Quantitative Cyber Risk Assessment For Marine Assets
ABS announced its successful development of a groundbreaking new methodology to measure cybersecurity risk associated with operational technology, providing marine and offshore clients a calculated risk index for vessels, fleets and facilities. The index quantifies cyber security risk and gives owners and operators an actionable strategy to reduce cyber risk onboard a vessel.
Until now, cyber risk assessment methods were largely qualitative, characterizing risk based on threats, vulnerabilities and consequences. These elements were useful in understanding risk; however, they were not quantifiable.
“With assets increasing in complexity, comprising several interconnected control systems, it was critical to develop a simple, quantifiable method to measure cyber risk,” said ABS Chairman, President and CEO, Christopher J. Wiernicki. “The ABS FCI Cyber Risk™ model gives owners and operators a straightforward approach to understanding their existing cyber risk and a concrete approach to reducing that risk.”
With its Functions, Connections and Identities (FCI) model, ABS can now calculate a cyber risk index for a client’s individual assets or entire fleets. From the risk index, an actionable report details precisely how to reduce cyber risk, which allows clients to target cybersecurity investments across their assets.
The quantifiable and calculable method evaluates not only the operational systems and connections of a vessel but also the human and machine identities, clearly enumerating the level of cyber risk exposure.
“This is data-driven decision making in action,” said Wiernicki. “With the results of the FCI Cyber Risk process, clients can apply a cost-effective risk mitigation strategy across their assets and fleets.”
The development follows ABS’ two-year research contract with the Maritime Security Center – a U.S. Department of Homeland Security Center of Excellence – led by Stevens Institute of Technology and including the US Department of Defense. The research objectives included: better definition of risk-based performance standards; development of a maritime-specific framework for cyber policy; identifying critical points of cybersecurity failure; developing design requirements for a maritime cyber test-bed; and investigating quantitative analysis tools to determine the effectiveness of cyber detection and deterrent strategies.
“Safety has always been at the heart of ABS’ mission and our revolutionary cybersecurity approach is another way we will continue to deliver our objective into the future,” said Wiernicki. “For ship owners and operators, this method not only allows them to understand their degree of exposure to risk today but provides an actionable roadmap for how to improve that position. The FCI Cyber Risk model is a new and significant step forward in safety for the entire maritime industry.”
The ABS FCI Cyber Risk model expands the capabilities in the ABS CyberSafety® Program, which includes additional assessments toward obtaining the industry’s only available CyberSafety Notations.
Press Release: ABS
Shipping News You Would Like:
Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Do you have info to share with us ? Suggest a correction
Latest Shipping News You Would Like:
Indian & U.S Navies Discuss Ways to Expand Maritime Security Cooperation
Philippines Accuses China Of Installing A Floating Barrier In The Disputed South China Sea
Insurers Of Burnt Ship X-Press Pearl Make Interim Payment To Sri Lanka For Cleanup
Firefighters Save Burning Container Ship Off The Cape Coast
Teenage Girl Found Hiding On Ship Sailing To Africa 12 Days After Disappearance
Get the Latest Maritime News Delivered to Your Inbox!
Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.