Freight insurance is one of the developed insurance sectors. Marine transportation features high risks which in some degree draws attention of insurance companies, since high risks mean high rates. Carriers of cargo also turn insurance to account, because it helps to handle a number of problems arising in emergencies.

The situation in Russia is Janus-faced. The majority of marine transportations is international. And in this sector, domestic insurers have to meet heavy competition with foreign companies. On the other side, domestic insurance market is almost occupied by Russian companies. Another feature of the domestic market is a relatively low penetration rate of insurance. Currently, less than one third of cargoes is insured. But in the marine industry, where the insurance is often a must, the share of insured transports reaches 50%.