Compass Marine Insurance Reports Decline in Piracy Claims

Compass Marine Insurance's annual claims report shows a significant 40% decline in piracy-related losses compared to the previous year.

Key Findings:

• West Africa incidents down 60%
• Indian Ocean remains low risk
• Singapore Strait incidents stable
• Armed guards continue to be effective deterrent

Despite the positive trend, we continue to recommend robust security measures for vessels transiting high-risk areas.