1;. Concluding remarks . The previous discussion on cost of 

 insurance and loss experience permits a number of conclusions: 



The cost of insurance in terms of gross premium ajid coverage 

 may not always measure fully the financial burden which falls upon 

 the owner of a commercial fishing vessel. Interest charges and 

 other costs incidental to the carrying of insurance may maJce the 

 cost of insurance more burdensome. Furthermore, the cost of in- 

 surance is mostly felt when other operational costs are also 

 rising and receipts from fish and shellfish landings are falling. 



It was shown that, willingly or otherwise, the majority of 

 insurers have sustained losses particularly for protection and 

 indemnity coverage, to the extent that their average loss experi- 

 ence was higher than their breaJc-even ratio during the period 

 1950- 5^+. 



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