Conclusion

Abstract

There has always been and continues to be a very strong connection between marine insurance and maritime liability laws. While the absence of marine insurance in the past led to some special maritime liability rules, today the presence of wide-spread marine insurance brings with it some new policy implications for maritime liability laws. One such policy implication seems to be the gradual adoption of compulsory insurance in various marine environmental liability laws. As discussed in various parts of the book, the availability of insurance and especially the requirement of compulsory insurance have contributed to better safety and precaution. With the use of various insurance mechanisms insurers are able to keep their insured motivated towards optimal care and consequently to reduce social losses caused by the negligence of the insured. This is best evidenced by the dramatic reduction in oil pollution incidents.