Abstract:
The insurance sector is one of the most important areas which supports the national economy especially the marine insurance which protects the maritime trade and financial fortune, This type of insurance is so old and rooted through ancient times. A marine insurance contract is done in accordance with certain procedures in which it covers ships and goods shipped bay sea.
Such a contract is featured bay specific characteristics which enables us to understand it accurately, however, the danger that inherents the maritime navigation and cruises is the reason that led to the establishment of such kind of insurance. The presence and the absence of marine insurance are related to the presence and the absence of the maritime danger during the cruises.
The reinsurance on the other hand is one of the most important and essential mechanizes in the field of marine insurance. It enables the insured to cover a large capital and gain customers as well .when the insured faces a risk, we have two ways to deal with such a situation the first one is the compensation claim and the second one is the relinquishment system, this latter is a very old way and widespread throughout the world and is taken only in some cases as claimed by the Algerian law.