TIDMINCE
Ince Group PLC (The)
01 February 2021
REACH
For Immediate Release
The Ince Group plc
(AIM:INCE)
Launch of an integrated cyber security solution for the maritime
sector in cooperation with Mission Secure Inc.
1 February 2021, London: International legal and professional
services firm, Ince, is pleased to announce a new venture with
Mission Secure Inc., one of the world's leading Operational
Technology (OT) cyber security companies. The venture signals the
development by newly established InceMaritime (100 per cent. owned
by Ince), of a first of its kind integrated legal advisory,
business consultancy and technology offering for the maritime
sector.
Beginning with cyber security, over the course of 2021
InceMaritime plans to launch further managed service solutions in
key areas for the maritime industry. This comes at a crucial time
of unprecedented change and regulatory transformation for
businesses in the maritime sector.
The launch of InceMaritime is founded on an understanding of the
increasing complexities of the maritime industry and the need to
provide fully integrated and all-encompassing solutions that enable
organisations to respond to the challenges facing the sector. This
requires collaboration between industry partners with specialist
expertise, and the creation of transparent ecosystems that can
protect ship owners and operators, and help them thrive in a
transforming market.
Ince Maritime will provide clients with a fully integrated cyber
security offering that protects on-shore and on-vessel OT networks,
safeguards operations, and ensures compliance and business
continuity.
The joint proposition comprises:
-- A full audit of a company's existing policies to ensure
compliance in line with the new ISM Code for Cyber Security
Guidelines ( IMO 2021).
-- The implementation of the patented Mission Secure Platform,
the first integrated platform built for OT cyber protection, which
is designed to harden vessels' control systems networks against
cyber threats.
-- The deployment of Mission Secure Managed Services, providing
24/7 cyber security monitoring, threat hunting, and incident
response support to ensure continual vessel resilience for ship
owners and managers.
-- Legal and crisis management services in the event of a cyber attack.
The integrated offering will provide ship owners, operators and
managers with complete reassurance that the significant
operational, commercial and compliance risks that they face from
the impact of cyber attacks are mitigated. With 92%* of estimated
costs arising from cyber attacks being uninsured, and the access
and limits of cover often restricted, it is intended that owners
and operators who sign up to the new service will benefit from
better insurance terms and preferential premiums. In addition,
P&I Clubs and insurance companies will also benefit from a
reduction in potential claims.
The launch of Ince and Mission Secure's cyber security offering
comes at a critical time for the industry. From 1 January 2021
onwards, all ship owners and managers must ensure that systems and
management for handling cyber security risks are incorporated into
vessels' safety management systems (SMS) from the date of the next
annual audit of the SMS. This requirement to be verified is
mandated by IMO and enforced by Port State Control. Despite this,
many organisations are not ready for compliance or don't fully
appreciate the full impact and the threat of cyber attacks; meaning
their operations are ripe for a cyber attack and exposed
commercially, as well as failing to comply with the new
regulations, creating a real risk of Port State Control
detention.
-more-
Commenting on the announcement, Julian Clark, Global Senior
Partner at Ince, said:
"Cyber security is one of the industry's greatest challenges.
The threat level and sophistication of hackers increases every day
with the result that many shipping companies do not fully
appreciate the seriousness of the issue they face. The combination
of the new IMO requirement together with the devastating impact a
cyber attack can have on their operations creates yet another
burden for those engaged in vessel operation. In such an
ever-evolving risk scenario, who can an owner/operator turn to for
a cost effective, reliable solution? Our cooperation with Mission
Secure brings all the essential elements that an organisation needs
to fully protect itself - from compliance to advanced technology
implementation - into one, combined offering."
"The maritime industry is transforming and becoming more
complex. The launch of InceMaritime is responding to this and
provides a viable, proactive and loss prevention solution for the
market. We want to provide both advice and action, where we will
collaborate and bring in specialist experts, like Mission Secure,
to provide clients with the best possible solution to help them
navigate industry challenges, stimulate growth and thrive."
Rick Tiene, Vice President at Mission Secure, said:
"There have been a number of recent high profile cyber attacks
within the maritime industry that highlight the impact on
operations and the high financial cost faced. Cyber attacks are
becoming increasingly sophisticated by the day, and organisations
are struggling to keep up with the security challenge."
"Of most concern is the fact that even if they are compliant
with the latest IMO regulation as well as other industry cyber
security guidelines, the reality is that they will not be
sufficiently protected, particularly from OT cyber attacks. Ship
owners and managers need to move beyond just basic compliance, and
away from a tick-the-box approach to cyber security. By partnering
with Ince, we can provide a complete cyber security solution for
clients that not only ensures compliance, but utilises the very
latest, military grade, advanced technology to provide the
necessary ongoing protection."
-ENDS-
NOTES TO EDITORS
* The Express Tribune, Cyber attack on Asia ports could cost
$110 billion , 30 October 2019
About The Ince Group plc
The Ince Group is a dynamic international legal and professional
services business with offices in nine countries across Europe,
Asia and the Middle East. With some 800 people, including over 100
partners worldwide, The Ince Group delivers legal advice, strategic
guidance and business solutions to clients ranging from the world's
oldest and biggest businesses operating across numerous industries
to ultra-high net worth individuals. Through its entrepreneurial
culture and "one firm" approach, the business offers its clients
over 150 years of experience, insight and relationships. The Group
is driven by a unique team of passionate people whose broad
expertise and deep sector specialisms provide their clients with
solutions to all their complex legal and strategic needs.
Ince Maritime is a subsidiary of The Ince Group plc.
About Mission Secure
Mission Secure(R), an OT cybersecurity leader, is setting a new
standard in OT cyber-protection stopping OT cyber threats head-on.
The Mission Secure Platform backed by 24/7 Managed Services is the
first to seamlessly integrate OT visibility, segmentation,
protection, threat hunting, and incident response, delivering
military strength, industrial grade OT protection. With Mission
Secure, customers keep critical operations up and running and safe
from harm.
FOR FURTHER INFORMATION, PLEASE CONTACT:
The Ince Group plc investorrelations@incegd.com
Adrian Biles, Group Chief Executive
Simon Oakes, Chief Financial
Officer
Arden Partners plc
Nominated Advisor and Broker
to the Company
John Llewellyn-Lloyd, Corporate
Finance
Dan Gee-Summons, Corporate
Finance
Simon Johnson, Equity Sales +44 (0) 20 7614 5900
Williams Nicolson +44 (0) 7767 345 563
Media enquiries ince@williamsnicolson.com
Steffan Williams
Louise Nicolson
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