UPDATE: At least on the version of the free episode at Amazon, the nudity is intact. The scene with Kennedy and New happens at around the 50-minute mark. It appears that it is only viewable in the US, though.
In the series premiere of Black Sails, Jessica Parker Kennedy (The Secret Circle) is topless while making out with Hannah New (who stays clothed). Three are a few glimpses of her breasts, but her hair does get in the way at times.
Starz is offering the first episode for free at various places (including Amazon), but I would be surprised if it was completely uncut.
Black Sails premieres on Starz on January 25.