More than 80 percent of global freight traffic falls to the share of maritime transport. This indicator shows how great the importance of the maritime sector is for the global economy. From this perspective, one of the main issues is ensuring the safety of the crew working in maritime transport and the transported cargo.
According to sea-news.az that Khalil Abbasov, director of Port Insurance and Reinsurance Broker, said these words in an exclusive interview with AZERTAG.
He noted that insurance acts as a kind of safety belt all over the world: “Naturally, insurance does not prevent potential damage, but it helps to minimize risks and possible financial losses. When insuring each vessel, various requirements are put forward by insurance companies. These requirements are related to both the safety of the ship’s crew and the transported cargo. The main stage is the preliminary assessment of risks. Each risk is analyzed separately, and appropriate safety measures are determined. If previously risks such as natural disasters and technical malfunctions were mainly insured, today new risks such as geopolitical tensions, war risks, and cyber threats are also included in special insurance coverage,” the director emphasized.
