And then there’s the question of whether there is really a financial incentive to act. In the early 2000s there was a notable rise in piracy in the Malacca Strait. But it was only after Lloyd’s Joint War Committee classified the area as a “high-risk war zone” in 2005, impacting insurance costs and image, that regional powers were galvanized to take meaningful action. The Malacca Strait Patrol, a coordinated policing exercise, were formalized the year after. These were successful enough in reducing incidents of piracy that Lloyd’s removed its ultra-high risk classification the same year.¹⁾