China Takes Action: Marine Environmental Liability Insurance Becomes Mandatory
Marine environmental liability insurance is important for China's shipping and marine industries. It is required by international treaties and helps with industry development. Some places have laws enforcing this insurance, and policies are guiding its implementation. Insurance companies are key players in this market. To make marine environmental liability insurance work better, the legal system needs improvement, policy insurance institutions should be set up, insurance limits need to be set reasonably, and the market for this insurance should be developed.