Mathematical models for marine insurance

1. Introduction 1.1. The mathematical models discussed in this paper represent an attempt to capture some of the essential elements in marine insurance, as I have come to see the problems after a few meetings with people responsible for the insurance management in shipping companies.Footnote 2 I am indebted to Bjørn Fusche and Leif Tronstad for helpful discussions. The models have in themselves no special marine flavour, and they may be applicable to insurance problems in other fields where conditions are similar.