But parametric insurance principles are also applied to Agricultural crop insurance and other normal risks not of the nature of disaster, if the outcome of the risk is correlated to a parameter or an index of parameters.
Whether operating as an inner or outer tugboat captain, the job holds tremendous responsibility, including ensuring the safety of all on-board personnel, maintaining and repairing a vesselâs mechanical systems, navigating tight courses in inclement weather, and meeting strict landing schedules.
The story of the incident was reported in the 2010 book A Captain's Duty: Somali Pirates, Navy SEALs, and Dangerous Days at Sea by Stephan Talty and Captain Richard Phillips, who had been master of the vessel at the time of the incident. The hijacking also inspired the 2013 film Captain Phillips.