Damages arising from collision and other maritime casualties and insurance cover

This master's thesis aims to clarify the maritime accident terms related to "collision," which occurs when ships collide with each other, as well as casualties involving vessels striking objects that are not legally considered ships. It further seeks to identify the types of damages arising from such incidents and to examine the role of marine insurance in addressing the consequences of collisions and other maritime accidents. Collisions and maritime casualties that occur for specific reasons in the international maritime sector may impose legal liability on shipowners, placing them in a difficult legal position. The study is not directed towards detailed evaluation of liability of the shipowners in the result of collision and other maritime casualties, but the main aim in our study is to discuss each damage and loss arising from collision and other maritime casualties and of course, to analyze the subject of insurance that takes a role actively when maritime casualty and collision are meant. In general, the study begins with the legal definitions of the terms "collision" and "maritime casualty", including the origin of the concept of collision and its evolution to the present day. Following this, types of damage and loss that are possible to arise because of the occurrence of a collision and other maritime casualties have been emphasized. Afterwards, due to almost all vessels and cargos being insured in practice, and insurers also playing an active role alongside shipowners in the period when damages occur arising from collision and other maritime casualties, steps and coverage of the insurer in case the incidents stated above occur have been focused on. This study highlights the importance of vessels operating in either national or international areas, to be insured in the event that the damages are substantial in the case of a collision or other maritime casualties, for various reasons, even if the possibility is low. In this context, with the study at hand, analyzing the functions of different types of insurance and cover to be provided for vessels, as well as the damages that may occur, including the loss of items that may arise from collision and other maritime casualties, will be beneficial for the maritime sector.