Pirate attacks trigger tenfold rise in ships’ kidnap insurance premiums

(LONDON) — Marine kidnap-and-ransom insurance premiums have risen tenfold as a result of the recent high-profile pirate activity off Somalia, the British news Web site Insurance Daily reported. Aon Risk Services reports that shipowner demand for the coverage is rising.
 
Click here to view the Web site’s story.
By Professional Mariner Staff