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(Re)insurers must take on more responsibility in the fight against piracy in the Gulf of Aden, a report by the UK's House of Lords has concluded.

In the paper, the House of Lords' EU Committee said: "The insurance industry is not taking sufficient responsibility for ensuring that commercial shipping transiting the area complies with readily available, tried and tested procedures to reduce the risk of capture by pirates. At a minimum the industry should impose increased insurance premiums on ship...

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