In this IIL claims webinar, Richard Neylon provides an update on issues in maritime piracy. In particular, the ever-prevailing threat of piracy off the coast of West Africa and the Gulf of Guinea especially.

Description

In this session, the speaker discusses some notable examples of West African piracy, including some of the many ransom cases that were handled by him and his firm. An assessment of the insurance effects of piracy and recommendations to be considered by the insurance industry to meet these challenges are also addressed.

Using some real-life examples, Richard highlights the unique circumstances posed by a risk first romanticised during the 17th century and which continues to affect both the modern-day shipping and insurance industries to this present day.

Learning objectives

• The current status of West African piracy, including the latest statistics and recorded instances
• The modus operandi of West African piracy and a comparison with Somali Piracy
• The safety and operational implications resulting from piracy
• The methods and challenges for resolving instances of piracy, including the payment of ransoms
• How West African piracy is insured, including marine war, marine liability and kidnap and ransom insurance

Speaker

• Richard Neylon, Partner, HFW