Commercial Maritime Law

The insurer shall be liable for: 1. material damage sustained by the insured items due to a maritime risk or an event of force majeure, if such risk or event is covered by the insurance contract; 2. the share of the insured property in general average, unless the loss arises from a risk not covered by the insurance contract; and 3. costs related to an insured risk that are incurred to prevent or minimize material damage to the insured property.