Hiscox backs new piracy countermeasure
Hiscox, a leading kidnap and ransom insurer, has lent its support to a new counter-piracy alert system, the Ship Security Reporting System (SSRS).
Pole Star developed SSRS to provide a real-time connection between naval operations and a ship’s Ship Security Alert System (SSAS), thereby slashing the time it takes for a ship under pirate attack to notify the navy.
HIscox Marine Piracy Underwriter Jonathan Gregory has said that the best time to foil a piracy attack is prior to successful boarding, but that at present notification can take up to an hour.
However, with SSRS this time lag is cut to mere minutes, greatly enhancing the chances of a successful intervention.
In recent months and years piracy has become a significant threat in certain parts of the world, most clearly in the waters around Somalia where pirates are an increasing danger.
According to Lloyd’s of London gun usage by Somalian pirates is up 200% year-on-year and in 2009 some 661 hostages had been taken by pirates, of which eight are missing and six have been killed.
Category: Insurance News
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