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Kidnap Insurance Costs Soar Tenfold in Gulf of Aden on Escalating Piracy

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Shipowners navigating the Gulf of Aden are seeing insurance premiums for kidnap and ransom increase tenfold as piracy escalates, said Chicago-based global insurance broker Aon Risk Services on Thursday, April 9, 2009, one day after Somali pirates hijacked a U.S. cargo ship.
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