Marine Liability Insurance is a specialized type of insurance designed to protect businesses and individuals involved in maritime activities. It covers legal liabilities arising from accidents, injuries, or damages that occur on or near water, such as collisions, pollution, or injuries to crew members and passengers. This insurance is essential for shipowners, operators, and charterers, as it helps manage the financial risks associated with maritime operations. By having Marine Liability Insurance, policyholders can ensure they are financially protected against claims and lawsuits that may arise from their activities on the water.