Marine Insurance: Fundamentals And Practices

Understanding Coverage, Risks, and Claims in Global Maritime Trade

What you'll learn

To understand the concept of marine insurance.

To comprehend the marine insurance market structure.

To know the risks covered by marine insurance.

To acquire knowledge in different institute clauses.

To gain knowledge on marine insurance claims.

Requirements

Positive Attitude is enough.

Description

This course provides a comprehensive understanding of marine insurance, its principles, and practical applications in maritime trade. Key areas covered include:Introduction to Marine Insurance: Overview of the marine insurance industry, its history, and significance in global trade.Types of Marine Insurance: Insight into various types of marine insurance, including Hull, Cargo, Freight, and Liability insurance.Institute Clauses: Study of the standard clauses used in marine insurance contracts, including Institute Cargo Clauses and Institute Time Clauses.Key Principles: Exploration of core principles such as utmost good faith, insurable interest, indemnity, subrogation, and proximate cause.Marine Insurance Market Structure: Understanding the roles of Lloyd's, insurance companies, P&I Clubs, and brokers in the international marine insurance market.Coverage and Exclusions: Detailed explanation of the risks covered by marine insurance policies and common exclusions.Claims and Procedures: Guidance on marine insurance claims, documentation, and the legal framework governing disputes.Evolution and Modern Trends: Examination of the historical development of marine insurance and its adaptation to modern risks, such as cyber threats and environmental liabilities.Case Studies and Practical Applications: Real-world examples of marine insurance claims and risk management strategies.This course is designed for students, professionals in maritime industries, and anyone interested in understanding the complexities of marine insurance.

Overview

Section 1: : THE CONCEPT OF MARINE INSURANCE

Lecture 1 Evolution of marine insurance

Lecture 2 Nature and scope- marine insurance contract

Lecture 3 General principles of marine insurance

Section 2: MARINE INSURANCE MARKET STRUCTURE

Lecture 4 The international marine insurance market

Lecture 5 Division between Lloyd’s, Insurance companies and P&I Clubs

Lecture 6 Llyod’s brokers and agents

Lecture 7 Marine insurance market structure in India

Lecture 8 Insurance brokers

Section 3: CLASSES OF RISKS COVERED UNDER MARINE INSURANCE

Lecture 9 Hull & Machinery

Lecture 10 Freight and Hire

Lecture 11 War Risk

Lecture 12 Cargo Liability

Lecture 13 Employee Liability

Lecture 14 Protection & Indemnity Third Party (incl. collision, damage to other property)

Section 4: INSTITUTE CLAUSES

Lecture 15 Institute Time Clauses Hulls

Lecture 16 Institute War and Strikes Clauses Hulls

Lecture 17 Institute Time Clauses Freight, Institute Cargo Clauses (A)

Lecture 18 Institute Cargo Clauses (B) - Institute Cargo Clauses (C)

Lecture 19 Institute Strike Clauses (Cargo)

Lecture 20 Institute War Clauses (Cargo)

Section 5: MARINE INSURANCE CLAIMS

Lecture 21 The concept of total loss

Lecture 22 Particular average and General Average (GA)

Lecture 23 The principle of salvage

Lecture 24 Claim procedures and Documentation

Lecture 25 Right of Subrogation

The course on marine insurance claims is designed for a diverse group of professionals and individuals who are involved in, or interested in, the marine insurance industry.,Insurance Professionals,Shipping and Logistics Professionals,Legal Professionals,Risk Managers,Marine Surveyors,Students and Academics,Business Owners and Entrepreneurs,Government and Regulatory Officials,International Trade Professionals