Insurance Companies
Insurance companies are entities that provide insurance policies to individuals, businesses, and other organizations to protect against financial loss in the event of unforeseen circumstances. In the maritime context, insurance companies offer various types of marine insurance policies, including hull and machinery insurance, protection and indemnity insurance, cargo insurance, and liability insurance. These policies cover risks such as damage to vessels, loss of cargo, and personal injury or property damage caused by maritime accidents. Insurance companies also play a crucial role in the maritime industry by providing risk management services, such as safety inspections and loss prevention advice, to help prevent accidents and reduce insurance claims.
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News Source: ABC News on 2024-11-20
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