Kidnap insurance soars as piracy escalates
Shipowners navigating the Gulf of Aden are seeing insurance premiums for kidnap and ransom increase tenfold as piracy escalates, according to Aon Risk Services.
According to Aon, this means shipowners could be paying $30 000 premium for $3m of cover for one journey through this piracy hotspot.
However, it added that more are opting for cover to protect their
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