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The purpose of this paper is to show the link between human error and marine accidents.

The authors carried out field research and also used empirical evidence.

Until 1998, the human side has been neglected, for centuries, in favor of the technical side. Even after 1998 improper focus did not eliminate marine accidents.

Lack of data between human error and marine accidents.

The paper is addressed to the maritime community and its safety administration in the EU and IMO, to eliminate human error.

There is potential for reduction of human injuries, deaths and marine pollution.

The paper is of value as no prior research, in depth, has been done to see what is behind the standard etiquette “human error” in marine accidents.

The purpose of this study is to determine the distraction factors based on their contributions in affecting seafarers’ physical and psychological well-being.

A systematic average mean value technique incorporated with quantitative data collection is applied to determine the contributions of the involved factors in establishing the distraction problems among seafarers.

Element of “Food and nutrition” is recorded as the highest contributing factor to Malaysian seafarers, for deck and engine department, respectively, in establishing the distraction-related problem among five other factors involved.

This paper is only providing a scope of knowledge regarding the contribution of potential distraction factors existing on board the offshore ships. However, the potential distraction factors and their contributions, respectively, are very dynamic and may vary, depending on the situation of a particular area and who are being involved.

The result assists the shipping industry in recognizing the actual causes of the occurrences of marine casualties and incidents related to human factors.

The benefits are addressed to seafarers’ community where their well-being and work performances could be enhanced, thus reducing the occurrences of marine casualties and incidents. Local community at the shores also will be less threatened by marine pollution caused by the accidents of ships at sea.

The result provides a scope of knowledge regarding distraction-related factors in shipboard operation and also the introduction to a systematic assessment approach to determine and rank the parameters by using the systematic average mean value technique which is also a straightforward method and can be applied in any other circumstances.

The global economy is highly dependent upon international ocean shipping and important related industries, such as vessel brokerage and chartering. Maritime safety in today's international economic environment presents policy, management, and ethical dilemmas for global business managers, including those not directly involved with managing marine transportation. This paper presents some of these issues, calls for managerial attention to the ethical problems raised, and adapts an existing framework for ethical decision‐making for this purpose.

A primitive form of marine insurance existed in very early times in what are known as contracts of bottomry or respondentia. This was an arrangement by which the owners of ships borrowed money at a high rate of interest and did not repay the loan if the ship was lost. This was also extended to other property, so that a rudimentary form of burglary insurance can be traced in the distant past. Loans of this kind were transacted in ancient Babylon, as is shown in the Code of Hammurabi, c. 2025 B.C. Contracts of bottomry were prohibited by a decree of Pope Gregory IX in 1234 on the grounds that they were usurious, and some authorities think that it was at this point that insurance in its true sense developed. In 1310 there existed at Bruges a ‘Chamber of Assurances’ for the insurance of merchandise against marine and other risks.

The focus of this paper is on the role of the United Nation’s Agency for the maritime affairs, i.e. the International Maritime Organisation, in the setting of quality and safety standards in shipping and the difficulties in establishing and implementing them. Being the only international rule‐maker, the sole setter of maritime safety standards that apply universally, the IMO exhibits increased interest with respect to its approach to safety and the promotion of quality in the shipping sector. The present paper examines the steps taken in the 1990s by the IMO for enhanced quality and safety standards and undertakes a critical review of the most important hindrances in their establishment and implementation. The investigation reveals the various safety issues that have been treated by IMO as high agenda items in recent years as well as a number of limitations for the IMO and problems with regard to the implementation process.

We investigate the relationship between chief executive officer (CEO) compensation and a firm's financial performance in the insurance industry to determine CEO pay policies that are more effective in promoting specific financial corporate goals.

Considering different components of executive pay, we investigate the latter’s relationship with the corporate performance of the insurance industry using the generalized method of moments (GMM) model developed for dynamic panel estimation. Our data encompasses the periods before and after the 2008 financial crisis.

We observe that after the crisis the insurance industry experienced a major change in executives’ compensation packages. While CEOs’ compensation was primarily based on bonuses pre-crisis, the average size of the bonus was reduced to one-third of the level, stock awards and nonequity incentives were doubled and option awards increased almost 70 percent in the post-crisis period. It is also evident that the work experience of CEOs and the firm's financial performance play a significant role in determining CEO compensation. As the CEO becomes more experienced, stock awards and option awards replace cash bonus.

The paper finds supporting evidence for the agency-related problem in the insurance industry and the convergence of interest hypothesis, suggesting that a firm's market valuation rises as its managers own an increasingly large portion of the firm. To align the interest of owners with that of management, managers should be converted into owners via stock ownership. The paper addresses a topical issue regarding pay and performance and the effect of the financial crisis in the insurance industry.

The focus of this paper is the UN’s agency for the maritime affairs, the International Maritime Organisation (IMO) and more precisely its approach to maritime safety. Being the only international rule‐maker, the sole setter of maritime safety standards that apply universally, the IMO exhibits increased interest especially with regard to its organisational culture, the safety culture that constitutes its core mission. An examination of the evolution of IMO’s safety culture is in essence an examination of the international approach to disaster prevention and risk management in shipping and it is in fact the subject of our present study. Our investigation will reveal the various safety issues that have been treated by IMO as high agenda items in recent years, as well as the factors that can be regarded as instrumental in cultural change and, thus, in the evolution of IMO’s safety philosophy.