Lawfirm Yulcheon

If two vessels collide with each other at sea, damage may occur such as hull damage, crew’s injuries and deaths, cargo damage and marine pollution etc.

Each vessel's hull insurance and shipowner liability insurance (P&I insurance) compensate for their own vessel and crew members, and also compensate the other vessel and crew members.
If oil flows out of the vessel and pollutes the ocean, shipowner liability insurance will pay for it.
Criminal charges may be filed regarding destruction of vessel due to occupational negligence of duty.
In the event of damage to the cargo loaded on the vessel, the cargo owner may demand that the carrier take responsibility, but in general, cargo insurance indemnifies loss first and files a recourse claim against the carrier or the other vessel.
Who should bear loss of earning or hire due to an accident under the charter party must be decided between the charterer and the vessel’s owner.
Fishing boat insurance and fisher insurance, which are unique in fisheries, cover loss that the fishing boat and fisherman suffer due to an accident.

In maritime accidents, the assistance of a lawyer who has expertise in maritime matters is essential because there are multiple and divergent interests and relations and thus legal responsibilities are intricately intertwined.