Insurance Post

Malacca Strait nations address pirate concerns

Nations straddling the Malacca Strait have urged insurers to reconsider their "war-risk" rating on one of the world's busiest waterways, citing efforts to beef up security in those pirate-infested waters. Foreign ministers from Indonesia, Malaysia and Singapore told a news conference they have made significant progress in establishing a framework for cooperation in areas such as air surveillance, coordinated patrols and information sharing.

"It's regrettable that they have classed the strait as a high risk zone," Singapore's Foreign Minister George Yeo told reporters at Indonesia's resort island of Batam, where foreign ministers of the

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