Insurance Coverage
Insurance coverage in maritime context refers to the protection provided by an insurance policy to the owner of a vessel or cargo against loss or damage caused by various risks such as collision, fire, theft, piracy, and natural disasters. The coverage may include hull and machinery, protection and indemnity, cargo, and liability insurance. Hull and machinery insurance covers physical damage to the vessel and its equipment, while protection and indemnity insurance covers third-party liabilities such as bodily injury, property damage, and pollution. Cargo insurance covers loss or damage to the goods being transported, and liability insurance covers the legal liabilities of the vessel owner or operator. Insurance coverage is essential for maritime businesses to manage risks and protect their assets.
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- CBFT (or CFT): CBFT (or CFT) stands for Constant Bearing, Falling Tide. It is a dangerous situation that occurs when a vessel is in a narrow channel or fairway and is approaching another vessel or an object, such as a buoy or a pier, on a steady bearing. ... Read More >>
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- Customs Regulations: Customs regulations refer to the set of rules and laws that govern the import and export of goods across international borders. These regulations are put in place to ensure the safety and security of countries and their citizens, as well as ... Read More >>
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