Last month's shocking takeover of the U.S.-flagged Maersk Alabama container ship by Somali pirates and even more shocking resolution was just a recent example of what is increasingly becoming a commonplace incident. According to publicized statistics, 111 ships were attacked by pirates in the Gulf of Aden in 2008, a 200 percent increase over 2007. Forty-two of those ships were held for ransom, and 889 crew members were taken hostage. Most ransom demands were between $1 million and $4 million per ship.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
