Marine Insurance: An Essential Guide to Liability, Insurance, Law, the Market and Claims in the Maritime Industry

One of the most necessary and fundamental forms of insurance within the insurance industry, marine insurance facilitates global trade and ensures economic property. About 50,000 blue water ships serve world trade, and there are, at any one time, some 1.3 million seafarers ashore or at sea. The specialist international marine and transport insurance industry takes in some $30 billion in premium each year, and some 15,000 individuals work in the international insurance markets. Marine Insurance is the indispensable guide to these and other intricacies of this important part of industry to help you protect your supply chain and preempt losses and damages.

Marine Insurance covers the loss or damage of ships, cargo, terminals and any transport or cargo by which property is transferred, acquired or held between the points of origin and final destination. Cover provided includes hull insurance, war risk insurance, loss of profit/freight insurance, detention insurance, strike insurance or uninsured legal expenses (defence) cover. This essential guide will equip you with the knowledge to better understand the way marine insurance markets function and the terms of the standard covers available. Essential for both suppliers and specialist buyers of marine insurance, Marine Insurance covers types of insurance premiums; P&I insurance; cargo insurance; hull insurance; strikes, riots and political risks; war risks; reinsurance; claims handling, uncertainties, market trends and future directions. Each chapter includes real-life case studies to illustrate different issues that arise with marine insurance. There are also sample terms of agreement, showing best practice.