73rd International Atlantic Economic Conference

March 28 - 31, 2012 | Istanbul, Turkey

The impact of crisis on the maritime sector: The case of premia in marine insurance

Friday, 30 March 2012: 5:10 PM
Michalis Pazarzis, PhD , Maritime Studies, University of Piraeus, Piraeus, Greece
The crisis in maritime sector created problems in maritime enterprises and influenced every aspect of economic relations which is connected to the investigation of the impact of the crisis in maritime sector on the formation of the level of premium is a topic of interest. Marine insurance companies have encountered considerable changes of the limitation of freight, the decrease in the price of freights and also the increase of the operational expenses of the ship. In this presentation I will investigate and analyse the causes of the fluctuations in the level of the premium of ships, goods and freight during a period of crisis in maritime sector and I will make propositions aiming at the improvement of economic characteristics of marine insurance and maritime enterprises.