Maritime ventures have always been risky. Marine insurance is the coverage that protects shipowners, cargo owners, and others against financial loss from the perils of maritime transport—damage to ships, loss of cargo, and related liabilities.

Hull and machinery, cargo, and protection and indemnity are the main branches. Policies define covered perils, exclusions, trading limits, and claims procedures. The principle of utmost good faith requires full disclosure of material circumstances. Average adjusters and surveyors play central roles when claims arise.

Marine insurance enables trade by transferring risks that few individual parties could bear alone. Premiums reflect the ship’s type, age, trade, and loss record. A well-placed insurance program is a standard part of responsible ship operation and cargo movement.

• Insurance against maritime transport risks
• Covers ships, cargo, and related liabilities
• Based on utmost good faith and defined perils
• Essential enabler of commercial shipping