£10m plan to protect shipping from piracy
JLT Insurance Brokers plans to create a private navy to protect ships from Somali pirates. It proposes a fleet of 20 armed patrol boats, which would cost about £10m.
Insurers and shipping companies will fund the force in return for a reduction in premium. The fleet would escort ships and be able to use force.
Currently, 16 ships and 354 sailors are being held hostage by pirates in the Gulf of Aden. New attacks are expected when the monsoons end.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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