Company offers piracy insurance

January 13, 2009 5:17:50 PM PST
A Chicago company is now offering insurance for piracy.Pirates have become a growing problem on the high seas, especially off the coast of Somalia where oil tankers and cruise ships have been seized by pirates in speed boats armed with automatic weapons and rocket launchers.

So Aon insurance will offer insurance for ship owners and cargo owners to cover losses from ships taken by pirates.