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Thursday, April 16, 2009
From the P&C Files: Insuring Piracy?
10:30 AM
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While hunting for relevant
Cavalcade of Risk
posts (something I do to help out hosts), I ran across this fascinating article on K&R (kidnap and ransom) insurance:
"...
it doesn't take much imagination to see that kidnap and ransom insurance feeds a flourishing worldwide enterprise in criminal activity. It's the insurance equivalent of derivatives in the securities trading market. There's no stated law against it, so it must be okay
."
Provocative, yes, but oddly compelling. Recommended.
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