Shipowners face battle with insurers over soaring piracy cover

Janet Porter - Friday 27 November 2009

SHIPOWNERS face some tough bargaining with insurers as the cost of buying ransom cover soars and some underwriters start to exclude this risk from standard policies.
The amounts being charged vary enormously from one owner to another, depending on the type of ship travelling in pirate-infested waters, the actual route or destination and the negotia...

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