Reviewed August 13, 2018 

It used to be that the subject of pirates conjured up thoughts of eye patches, stolen treasure, and handsome men with cutlasses saving damsels in distress. While that is Hollywood's version and not reality, pirates are not just Hollywood stories. Pirates are alive and well off the coast of Somalia. In 2008 they hijacked forty-nine ships and took 889 crew members hostage. The exact amount of ransom the pirates garnered is unknown since ship owners hesitate to disclose what they paid and pirates are not keeping a lot of records. Ransoms generally range from $1 to $3 million, and it is estimated that between $40 and $150 million was paid to pirates in ransom in 2008. Since they are taking property and hostages and demanding ransoms, insurance may enter the picture.

 Terms