Despite the multi-year decline in reported piracy incidents off West Africa, shipowners and marine insurers say recommended security measures for vessels transiting the Gulf of Guinea have remained largely unchanged, reflecting a cautious approach to a security picture that can shift quickly.
War risk premiums for the area have eased gradually as incident data has improved, though underwriters say they continue to monitor the region closely rather than treating the improvement as permanent.
Shipping associations have encouraged member companies to keep following industry best-management practices, including maintaining watch schedules and reporting protocols, even as the immediate threat level has receded.