Publication

This report explores the risks to US security and the monetary impact created by pirate attacks. The author documents pirate attacks and US responses in 2008, their impact as well as the economic costs and consequences of piracy. He also provides basic information about maritime insurance to demonstrate the monetary risks, impacts and potential for federal policy. The report debates proposals for military deterrence and diplomatic engagement, and the potential for policymakers to underwrite marine war risk insurance under circumstances such as piracy.