marine insurance

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marine insurance:

see insuranceinsurance
or assurance,
device for indemnifying or guaranteeing an individual against loss. Reimbursement is made from a fund to which many individuals exposed to the same risk have contributed certain specified amounts, called premiums.
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References in periodicals archive ?
In this paper its influence on the shipowners and maritime insurance was analysed.
Piracy in the Gulf of Aden has grown to epic proportions in recent months, forcing maritime insurance rates higher and providing pirates a handsome return with ransoms averaging between $1.
Piracy off Somalia, one of the world's busiest shipping areas, and other coasts of Africa has increased sharply over the past year, earning the pirates millions of pounds worth of ransom payments and pushing up maritime insurance rates.
Piracy off Somalia, one of the world's busiest shipping areas, has soared over the past year, earning the pirates millions of dollars of ransom payments and pushing up maritime insurance rates.
This period saw developments as diverse as joint stock companies, advanced map-making techniques, and the creation of maritime insurance to protect investors.
RIYADH: Saudi insurance market analysts have expressed concern that the abduction by Somali pirates of the Sirius Star and other ships could lead to a tremendous increase in maritime insurance premiums.
In a related move, the US has been warning insurance companies to think twice before providing maritime insurance or reinsurance for Iranian vessels.
Due to set out again in spring 2001, the idea was abandoned when Pembrokeshire County Council, which took over from original organisers Menter Preseli, failed to get maritime insurance.
Tankers and tanker-loading facilities have been targets of attacks by Al-Qaeda and other terror groups threatening to disrupt oil supplies and adding to upward pressures on prices, maritime insurance premia and tanker charter rates.
Piracy and maritime insurance fraud perpetrated by pirate crews is estimated to cost around s16 billion annually, not taking into account the large number of uninsured or unreported vessel losses.
It will also be the sole provider of up to -date information about shipping incidents in Hong Kong to the global maritime insurance industry.
SPRING 2001: Journey re-start is halted after Pembrokeshire county council, which takes over from original organisers Menter Preseli, fail to get specialist maritime insurance.

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