Malayan Insurace
Malayan Insurance shares the importance of marine insurance in Philippines' maritime companies and the instances that would make you thank you have one.
The ocean is one of the most dangerous workplaces in the world. According to the 2017 annual report of the European Maritime Safety Agency (EMSA), there were 3,145 recorded incidents wherein 106 lives were lost and 957 left injured. Over 3,505 ships were involved in these casualties and 26 of them were not found.
A fine strong wind and a following sea is what seafarers hope for every day. Yet, it is not always the case. The ocean is a very unpredictable and is considered to be one of the most dangerous workplaces in the world. This can also be said about the weather.
An oil spill is certainly one of the things that seafaring companies dread. Apart from the fact that it is a costly incident, tons of paperwork and a tedious investigation is needed to determine the cause of the incident.
Surprising as it is, there’s really no definite rule on when to abandon a ship. It is a known fact for seafarers that getting on a survival craft would really depend on the situation and the captain. It’s not an immediate decision made during an emergency. Here are the reasons why:
An emergency at sea is something everyone wouldn’t want to happen yet should prepare for. There are certain precautions that seafaring companies take to lessen casualties during such unexpected events. Knowing what to do once alarms sound off can help you respond faster and increase your survival rate.
Travelling by sea has always been accompanied by risks. That’s why seafaring companies and even shipowners are always encouraged to insure their vessels with a trusted marine insurance from the leading non-life insurance company in the Philippines. There are so many factors which can contribute to the outcome of a ship’s journey. A ship’s survival may be affected by human or mechanical error, harsh weather, and the like.
The Kraken may be a creature from the folklore butsea typhoons and other possible ocean disasters are definitely real. That is why it is better to secure a marine insurance before travelling in the sea. Read more about other possible dangers of the ocean
If you have ever thought of putting up your own local shipping and vessel business, it is best to contact insurance companies in the Philippines. By partnering with the right company, you could be assured to have a clear and transparent discussion about marine insurance and other benefits. Read more on knowing what marine insurance and its importance
