Seems some insurance companies want to create their own navy to protect insured ships against Somali pirates. And what will likely stop this effort? The market? Nope. Government, of course.
Note: OK. I realize this may just be a ploy to push the various states to intervene more often and with greater force. But it does show that private entities, and even the press in this instance, recognize government regulations as roadblocks to security and safety.