Piracy

The issues surrounding piracy continue to be at the forefront of all owners and operators having to navigate through the Gulf of Aden. With the passing of the current monsoon period there is a steady resurgence in the number of successful piracy incidents through this crucial artery of world trade.

The Shipping Industry is faced with increased insurance cost at a time when they are under severe economic pressure and insurers have suffered many losses resulting from the exposures associated with this crisis.

JLT have played a key role in the insurance industry's response to Piracy by collaborating with all stakeholders to obtain a deeper understanding of the issues involved with a view to developing new and innovative insurance solutions to address the problems.