Ships braving Gulf of Aden seeing insurance costs jump 'tenfold' - Aon
(BestWire) - Ships that brave the Gulf of Aden, an area plagued by pirate attacks, are seeing premiums for kidnap and random insurance jump tenfold as acts of piracy escalate, according to global insurance broker Aon Risk Services.
Shipowners could pay as much as $30,000 premium for $3 million of cover for one journey through this piracy hot spot, Aon said. More shipping companies are buying the cover to protect their employees
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Personal
Allianz backs Wrisk in strategic investment
Allianz Holdings plc has invested in motor embedded insurtech Wrisk as part of its £12m series B funding round.
Defaqto buys Pearson Ham’s pricing business for £11m
Defaqto has acquired Pearson Ham Group’s market pricing business for £11m in a bid to become the “single source of truth” for retail financial services.
Diary of an Insurer: ManyPets’ Pierre du Toit
From pre-dawn toddler wake-up calls to board prep, model diagnostics and late-night electric-cello sessions, Pierre du Toit, chief data officer at ManyPets, offers an honest, energetic snapshot of balancing data leadership with real life.
Why insurers should be forced to signpost customers properly
Editor’s View: The Association of British Insurers and British Insurance Brokers’ Association’s signposting commitment is a step forward, but Emma Ann Hughes fears without rules and enforcement too many vulnerable consumers will still be left without access to cover.
First Central moves a step closer to IPO
First Central has confirmed it is moving a step closer to an Initial Public Offering as it is looking to hire corporate advisers.
Throwback Thursday: Record fire loss; Sedgwick buys broker
Insurance Post’s Throwback Thursday steps back in time to January 1991 to remind you what was going on this week in insurance history when fire claims surged and Sedgwick was buying a broker.
FOS travel referrals hit post-pandemic highs
As the Financial Ombudsman Service announces its resolution targets for 26/27, analysis shows travel insurance complaints increased by over 58% year-on-year in Q3.
Collaboration is the only way to close the travel claims gap
Mike Brown, head of fraud at law firm Weightmans, argues that without shared claims data, travel insurers remain exposed to opportunistic fraud that costs the industry millions.