The primary purpose of the insurance of the ship's hull and machinery is protection of the investments made by the ship's owner. In fact this is the insurance of the property covering the vessel together with her machinery and all shipboard equipment. This allows the ship owners to get necessary protection from the losses normally caused by damage occurred to their ships or total loss.
This booklet starts with the brief introduction to the maritime insurance followed by the chapter explaining the working principle of the P&I insurance. The risk evaluation and statistical loss records are dealt with in the next chapters. Then, the authors of the document addressed the liability for the damage to the transported cargo and passenger claims together with the extraordinary handling costs and personal injury.
Among other important topics covered in the present volume we would definitely mention the fines and general average contributions, pollution to the environment, wreck removal, ancillary covers etc. The publication will be of practical interest to the people willing to be kept updated with the latest happenings in the world of marine insurance and maritime business in general, the content will be very helpful.