The video discusses how a ship is insured through Britannia, a maritime insurance club under the International Group of P&I Clubs. This consortium provides liability coverage for 90% of ocean freight and pools liability claims among members. Additionally, a reinsurer backs these maritime insurance companies by providing financial protection. This system ensures that insurance companies have the necessary support to cover maritime liabilities effectively. #vizard
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Understanding Maritime Insurance: The Role of Reinsurers and P&I Clubs
