Commercial Maritime Law

1. If the subject of insurance relates to rewards for assistance and rescue, the insurer shall, within the limits of the insurance amount, reimburse the expenses incurred for vessel assistance or rescue, as well as any reward arising from an insured risk. Said insurance shall be effective only if the amount specified in the vessel’s insurance policy is insufficient. 2. If the subject of insurance specifically relates to vessel floating expenses, the insurer shall, within the limits of the insurance amount, reimburse said expenses in cases where the insured may abandon the vessel due to an insured risk.