The importance of insurance with risks and solutions for ports and terminals Marine Insurance

Abstract

The projects and operations of ports and terminals are exposed to a range of complex and changing risks. In addition to the development of these projects and taking multiple forms, the problems associated with these developed projects develop and often require a balanced strategy to address risk mitigation. This strategy involves risk transfer and reduction using traditional insurance policies, as well as innovations and solutions tailored to specific customer requirements.

Life Cycle Risks for Marine Projects

The concept of life cycle risk, which refers to the changing pattern of the customer's risk profile, from the initial development of the project to planning, design, financing, construction, and very long years of operation.

By recognizing that the challenges and risk profile of individual stakeholders of a project will change over the life of the project, the approach should provide insight into how risk issues and solutions can span multiple phases of the project.