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.
Your Previous Searches
Random Picks
- Copepods: Copepods are a type of small crustaceans that are found in both saltwater and freshwater environments. They are an important part of the marine food chain, serving as a primary food source for many species of fish and other marine animals. ... Read More >>
- Coastal Development: Coastal development refers to the process of constructing buildings, infrastructure, and other facilities along the coast. This includes activities such as land reclamation, dredging, and the construction of ports, marinas, and other coasta ... Read More >>
- Letter Of Credit: A letter of credit (LC) is a financial document issued by a bank or financial institution that guarantees the payment of goods or services to the seller once the seller provides the necessary documents. In maritime trade, a letter of credit ... Read More >>
Top News
Japan will watch China's military after Beijing admits violating Japanese airspa...
Japanese officials say they are closely watching to see if China keeps its promise to prevent further violations of Japan’s airspace after explaining that an incursion by a Chinese military aircraft...
News Source: ABC News on 2024-11-20
Southeast Asian defense chiefs meet in Laos as maritime disputes with China are ...
Southeast Asian defense chiefs and representatives are meeting in the Laotian capital for security talks at a time of increasing maritime disputes with China in the Asia-Pacific and as the transition ...
News Source: ABC News on 2024-11-20
Biden's $100 billion disaster aid request includes money to rebuild the collapse...
President Joe Biden’s pending request to Congress for nearly $100 billion in emergency disaster aid includes money to rebuild Baltimore’s Francis Scott Key Bridge after its deadly collapse in Marc...
News Source: ABC News on 2024-11-19
The Houthis appear determined to score a hit on the American and European warshi...
The US and European Union have maintained a significant Middle East naval presence to battle the Houthis over the past year....
News Source: Business Insider on 2024-11-19
US defense chief says alliance with Philippines will transcend administrations...
U.S. Defense Secretary Lloyd Austin has condemned China's dangerous actions against the Philippines and renewed a warning that the United States would defend its treaty ally if Filipino forces come un...
News Source: ABC News on 2024-11-19