International Maritime Insurance Concept-International

Marine insurance is an insurance business in which the ship and its accessories are the subject of insurance. According to the state of the ship, it is divided into ship operation insurance, ship construction insurance, ship suspension insurance, ship repair insurance, ship recycling insurance and container insurance. Marine insurance belongs to the category of property insurance and is a legal system that provides economic compensation for property losses caused to people by natural disasters and accidents at sea.

Marine insurance is an insurance business in which the ship and its accessories are the subject of insurance. According to the state of the ship, it is divided into ship operation insurance, ship construction insurance, ship suspension insurance, ship repair insurance, ship recycling insurance and container insurance. Marine insurance belongs to the category of property insurance and is a legal system that provides economic compensation for property losses caused to people by natural disasters and accidents at sea.

The difference between marine insurance and general property insurance lies in: the subject of marine insurance is usually related to maritime navigation, such as ships and cargo on board; the risks covered by marine insurance in addition to the general risks that exist on land (such as lightning, severe weather, fire , Explosions, etc.), there are a large number of marine-specific risks (such as hitting a rock, stranding, seawater into the cabin, etc.); marine insurance is generally an international business activity, because under normal circumstances, or the parties to marine insurance belong to different countries , Or the insurance accident happened in a foreign country, in short, most of them involve international relations.

Principles based on marine insurance contracts. After a marine accident occurs, whether it is within the scope of insurance liability, whether it is within the insurance period, the amount of insurance compensation, the determination of the deductible amount, the insured's own responsibility, etc. are all responsibilities determined according to the insurance contract. When dealing with insurance compensation, marine insurers should take the insurance contract as the basis and pay attention to reasonable principles, because the terms of the marine insurance contract cannot generalize all situations. The main function of marine insurance is to provide economic compensation. After an insurance accident occurs, the insurer shall promptly investigate, inspect and determine the damage, and promptly send the insurance compensation to the insured.