Maritime piracy today — Part I
Mention the word “piracy” to the man in the street and he will think of two things: piracy of optical media including music CDs and movie DVDS, and the romanticized image of the one-eyed pirate and his parrot, or to the younger people, Jack Sparrow. What most people are not aware of is that piracy at sea still occurs, at the cost of billions of dollars worth of goods and assets. While there are regions where piracy has been eradicated, hotspots still remain, particularly in Asia and parts of Europe and Africa. If your cargo shipment or ship will pass through high-risk waters, it pays to have your valuables insured.