Risk Management in the Insurance Clubs

摘要

Since old times people have defended themselves from hazards that uncertain future brings. Today people face numerous new hazards that characterize the world that we live in. Insurance cannot prevent unpleasant incidents, but the effects can be eliminated or at least alleviated. Contemporary conditions make insurance more important and inevitable in economic system with a strong emphasize on its international role. Beside its basic function, reparation and claim payout, modern insurance is characterized by important financial activities. Sea as the most important natural transport system is used to conduct international exchange of goods. The exploitation of the seas leads to expansion of the marine insurance, the oldest, the most important and the most developed category of transport insurance as well as insurance in general. This is because of the high value of the insured ships, specific risks, a long tradition and a worldwide implementation of requirements and clauses. Although the technological progress of a modern world is impressive, the risks are still inherent and it is impossible to imagine the marine transport without an appropriate insurance protection. Such protection is accomplished by an obligatory legal act - the marine insurance contract. In order to cover the risks, ship owners (shippers) associate in the protection and indemnity clubs. P&I clubs are specialized in marine liability risk cover. Traditional marine liability risks remain to be center of P&I covers but with time a portfolio has been expanded so it comprehends a variety of specific risks that became significant in modern times. The good risk management for the insurance clubs on the losses reduction is important because of a significant influence that these losses have on a financial stability of a marine contractor and special attention is paid to human factor being the main causative agent of losses in the marine transport.