What is a requirement for a vessel under Ocean Marine Insurance?

A vessel under Ocean Marine Insurance is required to be seaworthy at the time of the voyage. This means that the vessel must be in a condition that is ready and able to safely conduct its intended operations at sea. A seaworthy vessel is one that is properly equipped, maintained, and manned, and specialized for the trades and routes it will undertake.

Being seaworthy is essential not only for the safety of the crew and cargo but also for the protection of the insurer. If a vessel is not seaworthy, it may lead to increased risk of accidents or losses, which would impact the ability of the insurance policy to provide coverage. Plus, if the vessel were to suffer a loss due to unseaworthiness, the insurer might deny coverage if the condition was known prior to the voyage.

While having adequate insurance coverage is important, it does not specifically pertain to the vessel's condition for ocean travel, which is why it does not meet the requirement in the context of this question. Prior claims may indicate risks but are not a determinative factor for Ocean Marine Insurance coverage. The flag under which a vessel operates may have regulatory implications but does not inherently affect whether the vessel meets the requirement of being seaworthy.