WHAT IS PIRACY?

[Capt.mino]

"Piracy is the act of boarding any vessel with an intent to commit theft or any other crime, and with an intent or capacity to use force in furtherance of that act."

In order to distinguish it from simple highjacking, a piracy crime requires that two vessels are involved in the incident. The second requirement is that the crime has been undertaken for private, not political purposes. These can be important considerations when determining coverage under a policy of marine cargo insurance.

For example, in one famous British case from years ago, the marine policy was "warranted free of capture, seizure and detention...piracy excepted." All was well for payment of the claim, until it was discovered that the so-called "Pirates" who took the assured vessel had actually been attempting to overthrow the Bolivian government! Seizure of the vessel had been a political act.