Risk analysis for capsizing of small vessels

Vessel accidents during stormy weather conditions over Kuwait's coastal waters are one of the major concerns for insurance and re-insurance companies, since such accidents can result in not only material losses but also losses of lives. In order to determine insurance rates for different types of vessels and their operators, it is desirable to estimate the risk or probability of occurrence of an accident and the resulting expected damage or losses associated with a given vessel type under the local wave conditions first, Therefore, there is a national need for such a study to provide this type of basic information on the risks or probabilities of vessel accidents caused by high waves within the Kuwait's territorial waters. The main objective of this study is thus to provide such information for the local and international agencies and companies concerned with sailing operations and maintenance, navigational safety, and particularly insurance of small recreational and commercial vessels. The study was carried out with the financial support of M/s Warba Insurance Company and the Kuwait Foundation for the Advancement of Sciences, Kuwait. (c) 2005 Elsevier Ltd. All rights reserved.