Factors affecting maritime insurance claims on H&M and cargo insurance in the markets of bulk carriers and tankers : cases analysis
Marine transportation has always been of fundamental importance to the development of economies worldwide. Nowadays, almost 90% of international commerce is conducted by sea. Marine adventure is exposed to danger despite advancements in safety and technology over the centuries. This thesis aims at providing a comprehensive description of the factors that affect marine insurance claims. For that purpose, all main components of claims market were examined one by one and then interrelationship between them was considered in order to overall present the coefficients of a claims indemnity. The basic principle of a contract of insurance is that the indemnity that the insurer undertakes to compensate the assured is the pecuniary loss suffered by the latter on the basis of that contract. Claims market is rather complicated and demands experts from different fields in order to settle any disputes satisfactorily. The outcome of a claim’s resolution can never be standard as it is affected by a plethora of factors not only concerning the substantiation of the claim but also the measure of indemnity.