MarineLink News Search

Managing Risk: Going Above and Beyond the Minimum

A vessel owner who takes on paying passengers knows he or she has to meet U.S. Coast Guard requirements for safety. If corners are cut, a barge operator can develop a reputation for accidents and business could disappear. And marine companies, just like other businesses, know the value of protecting themselves against liability with insurance. Yet, in trying to cost-effectively manage risks, marine operators frequently question whether they should go beyond the minimum.