6. Maritime Insurance

Maritime insurance protects shipowners and operators against financial losses due to risks associated with maritime activities, such as damage to ships, cargo loss, or accidents at sea. In the context of ship registration and nationality, it ensures that vessels are adequately insured according to the laws of the country where they are registered. This compliance is crucial for establishing legal ownership and responsibilities and can affect a ship's ability to operate in different jurisdictions, ultimately safeguarding investments and promoting maritime safety. Proper insurance also plays a role in national interests and economic security.