Marine insurance brokers act as intermediaries between ship owners and insurance companies, arranging and negotiating marine insurance policies. They possess specialized knowledge of maritime law, insurance policies, and market practices, ensuring that ship owners obtain appropriate coverage for their vessels and cargo.
Marine insurance brokers play a crucial role in the maritime industry. They help ship owners manage risks, secure financial protection, and navigate complex insurance regulations. Brokers also provide expert advice, ensuring that ship owners make informed decisions about their insurance needs. The history of marine insurance brokers dates back to the 14th century, and their services have been instrumental in the development of global trade and commerce.