The insurers are ultimately driven by lower benefit payments.The maritime industry has been paying claims at wildly inflated rates for decades because of the federal government's belief that there would be a major decrease in claims. Although the conditions of their exchange may be seen as a type of corporate welfare, these agreements ensure a steady supply of private insurance money to transportation companies. These days, insurance underwriters in the US, Canada, and Australia submit bids at the shipping rates set by the federal government. Government insurance policies covered a large number of ships owned by shipping corporations for years or even decades; in some circumstances, the insurance cost was subtracted from shipping profits.