Maritime Enterprise

Posted by adminNY on June 28, 2018

Merchant Shipping fraught with very significant risk. Property insurance participants (shipowners, cargo owners) are at serious risk of damage and destruction caused by natural phenomena nature, the imperfection of shipbuilding technology, as well as various types of accidents at sea. Damages to marine businesses can be very large. Losses shipowners are possible in case of a landing vessel stranding, fire, collision, need to pay the rescuers, the need to redress the other owners in the collision of ships and cargo – in case of damage and loss of cargo. Loss of cargo possible in case of any accident involving a vessel, as well as for damage or loss of cargo on the carrier’s fault, who did not act with due diligence about the cargo. Provisions of civil law provides for the obligation compensation for damage caused through the fault of any person. However, in the process of merchant shipping across such natural phenomena, natural or social nature which, although entail the infliction of damages, but are beyond the control of any of the participants Maritime Enterprise (force majeure, etc.). In such circumstances, damage to any who can not be recovered because there is no fault in causing it. B Navigation due to its specific risk of this kind of property loss is significantly higher than in many other areas of human activity. The need for opportunities to protect themselves from such losses caused the the emergence and dissemination of marine insurance, ie Insurance participating in the Merchant Shipping of the property (primarily of vessels and cargo) and other sailing-related property interests.


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