Navigating Risks at Sea: Why Marine Insurance is Essential for Shipping Businesses
Global trade functions as a whole through the shipping industry because it moves billions of dollars worth of goods across ocean routes daily. The unpredictable risks of sailing on high seas place businesses at risk of major financial losses since they must deal with severe weather and sea disasters and piracy incidents and vessel collision accidents and cargo damage events. The protection of unforeseen maritime risks depends heavily on marine insurance coverage. Business continuity with financial security arises from proper marine insurance coverage which includes hull insurance along with cargo insurance and marine transit insurance.
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