Marine K&R premiums rise tenfold on Somali pirate threat

"Aon Risk Services has reported that shipowners navigating the Gulf of Aden are seeing insurance premiums for kidnap and ransom (K&R) rise tenfold.
Some could therefore be paying a premium of $30,000 for $3 million of cover during one journey across seas that have become treacherous because of the activities of Somali pirates.
According to the company, [...]" (2009-4-14)
Read more...