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: http://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
DLG launches scheme to raise vehicle repair standards
Direct Line Group has launched a Vehicle Damage Assessor accreditation programme, recognised by the Institute of the Motor Industry.
Hiscox CEO Hussain reveals plan to rollout AI underwriting
Aki Hussain, CEO of Hiscox Group, has said to thrive in 2025 insurers should “think the unthinkable” about their business models and revealed his plans to roll-out artificial intelligence augmented underwriting.
Throwback Thursday: Hiring spree & Norwich Union purchases
Insurance Post’s Throwback Thursday steps back in time to January 1985 to remind you what was going on this week in insurance history when the year was starting with a hiring surge and Norwich Union was buying some prime City real estate.
Direct Line adds to top team after accepting Aviva bid
Direct Line Group has confirmed three appointments to its executive committee, shortly after reaching an agreement for Aviva to buy the business for £3.7bn.
Insurers respond to Labour’s social care plan
Insurers have reacted cautiously to Labour’s health secretary Wes Streeting's recommendation that Dame Louise Casey’s commission into the reform of social care consider using insurance to fund costs.
Extent of hollowing out of travel insurance uncovered
Almost nine out of 10 (88%) of travel insurance products no longer provide cover for scheduled airline failure, data from Defaqto has revealed..
Will weight loss jabs shrink or expand insurer’s bottom lines?
As well as the ability to shrink waistlines, Emma Ann Hughes unpicks how weight loss jabs have the power to transform the shape of the health and life insurance industry in 2025 and beyond.
Hastings sends customers refund email ‘in error’
Hastings Direct has sent out an email to various customers claiming they are due a refund, but has since admitted it was sent out “in error”.