Maritime Insurance

Maritime insurance is a specialized type of insurance that protects ships, cargo, and other properties related to maritime activities. It covers risks such as damage to vessels, loss of cargo during transit, and liability for accidents at sea. Essentially, it provides financial security to ship owners and businesses involved in shipping by compensating them for losses that may occur due to storms, collisions, piracy, or other maritime hazards. This insurance helps ensure that maritime trade operates smoothly and reduces the financial risks associated with transporting goods across oceans and waterways.