Why would a pirate ship want insurance?

Slate cited a UBC fisheries study by Daniel Pauly for a story on illegal fishing.

Pauly said that illegal fishing is still a big problem throughout the world and can have devastating consequences for the oceanic food chain. It also removes a crucial economic and nutritional source from the local population.

Pauly completed a catch reconstruction study of the past six decades and found many more illegal catches than had been reported.