TITLE

Insurers on board with piracy risks

AUTHOR(S)
Phillips, Zack
PUB. DATE
September 2009
SOURCE
Business Insurance;9/7/2009, Vol. 43 Issue 31, p11
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports on the proliferation of new insurance products that address the specific challenges presented by piracy as pirate attacks against commercial vessels continue near Somalia. Particular focus is given to the modus operandi of gangs of Somali pirates who started hijacking commercial ships in 2007. 130 ships were attacked by pirates near Somalia during the first half of 2009, according to the International Maritime Bureau's Piracy Reporting Center. Particular focus is given to the scope of kidnap and ransom (K&R) policies.
ACCESSION #
44562837

 

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