Marine Insurance

Live Two Day Seminar. 

For more information, complete this request form or call (201) 569-2882.

OUTLINE

This ASBA intensive will cover key aspects of hull and machinery, protection and indemnity, cargo, and charterer’s liability insurance. Students will review standard forms of marine insurance policies and related insurance documents. There will be reference to case studies that affected policy interpretation and marine insurance practice. Numerous handouts will be distributed providing further reading for discussion.

After completing this two day intensive, the student will be better able to read and understand the content of various forms of marine insurance policies, understand the risks associated with the operation of blue and brown water vessels and the carriage of cargo, and be better able to manage those risks through properly placed insurance.

Topics will include:

  • Marine insurance from a historical perspective
  • Insurance markets
  • Underwriting considerations
  • Insurable interests
  • Subject matter insured
  • Loss Payees
  • Policy Durations
  • Premiums and Calls
  • Hull clauses
  • Cargo Clauses
  • Particular average
  • General average
  • Actual Total losses
  • Constructive Total Losses
  • Sue and labor
  • Collision liability
  • Subrogation
  • Claims administration
  • Strikes and war risks
  • Kidnap and Ransom risks
  • Perils of the seas
  • Additional perils
  • Policy warranties
  • Deductibles and franchises
  • Salvage
  • Loss of hire insurance
  • Freight , Demurrage and Defense (FD and D)
  • P and I/Mutuality
  • The International Group of P and I Clubs
  • IG Pooling Agreement
  • Club Rules/Cover
  • Principles of Reinsurance
  • Surveys
  • Insurance Brokers and Agents

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