The author writes about the differences in maritime insurance that exist to the present day.The new maritime code of the Russian Federation was implemented on May 1, 1999. It consists of 430 articles in 27 chapters. The XV chapter of the code consists of 38 articles and it regulates maritime insurance agreement issues.The subject of maritime insurance can include any financial business concerned with the merchant marine or compensation for work and other sums of money for vessel captains and crews, including repatriation and reinsurance.Unlike in Polish maritime code, the agreement for maritime insurance under Russian Federation law must be in writing. By definition, a maritime insurance agreement names not only the insurer and the party who is taking out the insurance but it also names the person for whom the agreement was entered into. In general, the policy only covers insured cargo.