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
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