New piracy policy from Aon aims to fill market gap
Aon has written a new policy for charterers, ship-owners and cargo owners to cover loss of earnings from piracy. The insurer sais the recent increase in pirate attacks has revealed a gap in the available coverage for this market.
There have been over 50 reported attacks off the coast of Somalia, with 32 vessels hijacked, in the first eight months of 2008. The average duration of vessel seizure has been 60 days which means that
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