Tailored Piracy Insurance Policy News

MAST (‘Maritime Asset Security and Training’), a leading security organization that provides specialist global security services for the maritime community, has partnered with Beazley Group to offer a tailored piracy insurance policy designed specifically for shipowners with vessels operating in the Gulf of Guinea. The specialist policy has been developed in response to an increase in attacks, kidnaps and ransom demands against commercial ship owners operating in the Gulf of Guinea. This is in marked contrast to the Gulf of Aden, where latest figures from the International Maritime Bureau show a 54 per-cent drop in the number of piracy attacks in the region…