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World Insurance Report

Security

29.8, armed robbery

Corsica: an investigation was started into an armed robbery on board a luxury yacht off the coast of Corsica in which more than €130,000 was stolen. Yacht Tiara (428 gt, built 2004), was boarded off the Corsican coast, in what is the first incident of its kind in many years. No one was injured in the attack, which was considered to be a case of armed robbery, rather than piracy, as it occurred in national waters. The Tiara is understood to have been on charter to a group of German businessmen. Charter rates for the yacht are of the order of €180,000 per week.

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