Despite permanent/continuous development of technical progress aimed on perfection of vessels characteristics, the absolute safety of navigation is still impossible. But it is possible to avoid enormous financial losses.

According to the modern maritime practice, the lack of financial protection from unforeseen damages in the sea is the unconcern.

Ship-owners interests insurance is actually the only source of financial, judicial and informational support in the majority of casualties. Insurance covers not only the risks of direct property damages (such as hull insurance) but third parties interests (by ship-owners responsibility insurance) along with human life & health at sea.

Besides traditional purposes of insurance that are aimed on direct costs compensation, one of it’s main advantages is the protection from heavy losses related to ship demurrage as well as its release in case of arrest/detention by insurance or/and bank guarantees. Practicable assistance of the insurer is also his participation in rescue of vessel, equipment, cargo and — last, but not least — salvage in spite of all circumstances.