The insurers are ultimately driven by lower benefit payments.The maritime industry has been paying claims at significantly inflated rates for decades since the federal government anticipated a big reduction in claims. These agreements provide transportation businesses with a steady flow of private insurance funds, despite the fact that the conditions of their exchange may be seen as a kind of corporate welfare. These days, insurance underwriters in the US, Canada, and Australia submit bids at the shipping rates set by the federal government. Government insurance plans insured a significant number of ships owned by shipping corporations for years, if not decades; in some circumstances, the cost of the insurance was subtracted from shipping revenues.