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post #52 of Old 05-24-2011
BentSailor
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That would not surprise me, insurance companies are as risk averse as they come (having to pay for the follies of the insured). My understanding is that a majority of pirate ransoms are paid by said insurance companies where it is cheaper to pay off the pirates short-term than to lose the ship, it's freight, and pay out the life insurance of the crew.

Still would appreciate anyone knowing one way or the other. Been caught out before with something that "sounded true", only for it to be urban legend
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