Marine Hull Insurance
When we go back to the early history of marine insurance, what strikes us as most significant is that the seafaring merchants who had to encounter heavy losses and damage to their vessels and goods they carried caused by maritime perils like high tides, hurricanes, cyclones, fire, icebergs and the like and attack by pirates, rovers, thieves, freebooters and barratry in the course of their voyages thought of a mechanism of creating a special fund to share their losses which later took the form of insurance.
Marine Hull InsuranceWhen we go back to the early history of marine insurance, what strikes us as most significant is that the seafaring merchants who had to encounter heavy losses and damage to their vessels and goods they carried caused by maritime perils like high tides, hurricanes, cyclones, fire, icebergs and the like and attack by pirates, rovers, thieves, freebooters and barratry in the course of their voyages thought of a mechanism of creating a special fund to share their losses which later took the form of insurance.
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