Responding to the risk from increased ship piracy in the Gulf of Aden, another insurance brokerage announced it is offering an insurance policy tailored to deal with some of the losses from an attack.
Chicago-based Aon said it is new offering a policy for those who charter boats, ship-owners and cargo owners, designed to cover loss of earnings from a ship being detained by pirates.
Aon's move follows the Nov. 20 announcement of the Benfield Corporate Risk brokerage, after the capture of a Saudi Arabian oil tanker by Somali pirates, that it had produced a dedicated and exclusive Marine Ransom and Extortion policy.
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