A Study on the Change of Domestic Marine Accidents and Insurance Rates according to Enforcement of ISM Code

The variations of marine accidents and ship's insurences are measures for assessing the effects of ISM Code implementation, bemuse expenses for the treatment of ship accidents and compensations for the loss have an effect on the ship's insurence. In order to understand the results and accmplishements of ISM Code implementation in Korea, the rise and the fall of marine accidents and ship's insurences were analyzed and examined in domestic shipping companies from one year before implementation to eight years after implementation of ISM Code. As the result of analysis, compared with the period of a year before implementation of ISM Code, the decrease of about 14.4% in marine accidents was shown in the 8th year after ISM Code implementation in Korea, and ship's insurance rates tended to decrease from year to year.