Piracy Ransoms Remain Legal

A new Counter Terrorism and Security Bill, presented to the UK parliament on Wednesday, will not change current rules on piracy ransom payments, insurance industry experts and maritime lawyers believe. The bill is a response to heightened concerns over radicalisation and threats from Islamic State. London-based marine solicitors Waltons & Morse (W&M) issued a briefing, stating: “The present position under English law is that contribution to ransom payments by insurance companies is considered legitimate, but this has always been subject to the understanding that the payment will not be used to fund any terrorist organisations.”