This course on Marine Insurance aims to give a beginner in General Insurance the basic theory, and practices of marine insurance enough to help him or her work effectively as a practitioner in the non-life industry.
What You Will Learn
Upon completion of this course, the learner is expected to understand and explain the nature and basic features of Marine Insurance to the extent that he or she can add value to his or her organization by helping clients appreciate the features of the marine insurance products that the client is buying.
Subject Matter Expert
Module 1 Understanding Marine Insurance
6 Videos | 4 Activities
- Welcome to the course!
- The History of Marine Insurance
- Defining Marine Insurance
- What is coveren in Marine Insurance?
- Types of Marine Policies
- The Marine Insurance According to Period of Cover
- Exercise: Word Grid
- Recall: Sequencing Events
- Open Ended Activity
- Exercise: Who Wants to be a Millionaire?
Module 2 Principles and Practices of Marine Insurance
13 Videos | 2 Activities
- How do we apply the six principles in Marine Insurance?
- Illustration of Marine Insurance
- Sales Contracts and INCO Terms
- Applicable Jurisdiction and Warranties
- Expressed and Implied Warranties
- The Marine Cargo Policy
- Two Types of Cargo Policy
- The Marine Proposal Form
- Institute Cargo Clauses
- Basis of Valuation for Cargo
- Marine Hull and Machinery
- Institute Time and Classification Clause
- Need for Marine Hull Insurance
- Exercise: Crossword
- Exercise: Classifying Cargo Policies
Module 3 Types of Losses and Perils and other Details of Marine Insurance
9 Videos | 3 Activities
- Actual, Constructive Total Loss, and Particular Average
- Forwarding Expenses and Salvage Charges
- Sue and Labor Charges and General Average
- Valued and Unvalued Policy
- Six Basic Perils
- Extraneous and War Perils
- Deductible Franchise vs. Deductible
- Understanding Inland Marine
- Key Takeaways
- Exercise: Word Hunt
- Pop Quiz
- Exit Assessment: Quiz