Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 16th of October 2018
February 22, 2011

Insurers could deploy private fleet

by Richard Kilner

Story link: Insurers could deploy private fleet

A private fleet of armed patrol boats could be created at the behest of insurers from the City of London, CNA has reported.

The speculation has arisen in response to the ongoing piracy from Somalia, afflicting the Gulf of Aden and other waters near to and far from the Horn of Africa.

The idea came about following discussions with ship owners, freight operators and governments.

Somalian pirates in the Indian Ocean and Gulf of Aden have captured and hold more than 30 vessels, and the insurers’ fleet, dubbed the Convoy Escort Programme, aims to offer increased protection in the dangerous seas around Somalia.

Such a fleet would be under the authority of the relevant national navy and the crews involved would comply with international laws on combat and engagement.

Earlier this month the International Chamber of Shipping (ICS) clarified its stance on armed guards, stating that whilst typically this is not recommended the ICS recognises the need for enhanced protection in the seas within striking distance of Somalia’s coastline.

 

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