In continuation of the Lecture series launched in July 2021, the Indian Maritime Foundation conducted a half-day Webinar on ‘MARINE INSURANCE AND BEYOND – Theory, Practice and Case Studies.’ The objective was to demystify ‘Marine Insurance’ for those who may not be familiar with merchant shipping practices and give new insight into the subject to those who are in the maritime profession.
Marine Insurance is a system devised to mitigate and compensate shipowners and merchants for the loss, damages and liabilities they may incur in the course of a marine adventure.
Marine insurance in some form has existed from ancient times when man first ventured into canals, rivers, and the sea, knowing the risks that he would have to face. India is a maritime nation with a vast coastline and a history of maritime trade from ancient times and our mariners must, therefore be fully conversant with this subject.
We hope that the Webinar created awareness on the various aspects and nuances of marine insurance of ships and cargo; as well as cover compensation for prevention and mitigation of oil pollution. The role of P&I Clubs and Indian Coast Guard will also be discussed.
A number of distinguished experts with considerable experience in maritime, insurance and legal matters shared their views and experiences, and discussed various case studies, during the webinar.
For more details on the Indian Maritime Foundation and activities conducted by us, please visit our website at subscribe to our Quarterly Journal ‘Seagull.’ We also invite those who are interested in contributing to our objective of spreading maritime awareness amongst the citizens of our country to join the IMF. The membership application form may be accessed by clicking on the relevant link on the Home Page of our website.
source