Piracy & insurance market characteristics during the years and the new challenges presented in the insurance market industry
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Keywords
Piracy ; Shipping ; Insurance Market ; Marine InsuranceAbstract
The resurgence of piracy over the past twenty years has caused global alarm, as efforts are made to effectively address this issue. It is important to note that modern piracy differs significantly from the piracy of the 16th, 17th and 18th centuries. Unlike their historical counterparts, who engaged in piracy for political and expansionist motives, today's pirates are driven primarily by personal gain.
The regions that pose the highest risk for piracy are Southeast Asia, the Western Ocean and the Gulf of Guinea. While there are national and international legal frameworks to address this crime, the most important legislation is the International Convention on the Law of the Sea. Unfortunately, this convention does not include specific sanctions for pirates, leaving it to individual countries to enforce their own laws and punish captured pirates accordingly. However, it is important to recognise the far-reaching economic consequences of maritime piracy, which create economic challenges for all those involved in maritime activities.
Postgraduate Studies Programme
Shipping ManagementDepartment
Σχολή Ναυτιλίας και Βιομηχανίας. Τμήμα Ναυτιλιακών ΣπουδώνNumber of pages
73Language
EnglishCollections
Except where otherwise noted, this item's license is described as
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα
Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα