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Marine & Energy Insurance Programs and Short CPD Sessions for Marine Insurance Professionals at SCI Singapore
Established in 1974, The Singapore College of Insurance (SCI) is a not-for-profit professional training and education body for the insurance industry. For more than 43 years, the SCI has remained focused in its efforts to upgrade the technical expertise of insurance and financial services practitioners, and to provide them with professional advancement opportunities, through its series of practice-oriented programs and internationally-accredited qualifications.
The programs include talent development programs, such as the Insurance Executive Scholarship Program (IESP) and the Insurance Management Associate Program (iMAP) that have succeeded in attracting and placing numerous fresh tertiary talent into the varied functions in the industry. The SCI was voted the Asia Insurance Industry Educational Service Provider of the Year in 1997, 2001, 2007 and 2016. It has international links with professional bodies, such as The Chartered Insurance Institute (CII), The Chartered Institute of Loss Adjusters (CILA), and The American College (TAC) to name a few.
Marine Insurance Programs
Marine & Energy Programs
- SCI Marine Insurance Study Course (4 days): This course will equip participants with an understanding of Marine Insurance, and will provide a working knowledge of the main classes of insurance, including Marine Cargo, Hull, War & Strikes cover, Protection and Indemnity (P&I), and other liability coverage, and how these interrelate. The course will examine the standard coverage for each risk type. It also provides an understanding of the maritime transportation industry, the people involved, the contractual relationships and responsibilities, along with the different types of vessels used, and the current issues within the maritime industry that impact upon insurance.
- Marine Insurance - A Foundation Workshop (2 days): This intensive workshop is designed to equip participants who are relatively new to Marine Insurance with a firm foundation knowledge of this specialized class of insurance -the main risk classes; their coverage; the unique aspects of this class; and how Marine Insurance responds to the current issues in the modern commercial maritime world.
- Initial Introduction To Marine Hull, Cargo, Liability Insurance And P&I (2 days): This highly intensive program is designed to address how the various types of ocean-going cargo vessels operate, and their issues from an insurance perspective, as well to give a broad understanding of all four classes of Marine Insurance (Marine Hull, Cargo, Liability and P&I), their general extent of cover, exclusions and options.
- Underwriting Project Cargo Insurance (2 days): This program provides a comprehensive study of the discipline involved in the underwriting of Project Cargo Insurance (including DSU/ALOP). The key success from inception - feasibility studies including but not limited to site/locations and accessibility to transport complex prototype heavy equipment - to its final positioning and testing will be dealt with exhaustively during this program.
- Marine Cargo Insurance Underwriting - Applying Knowledge Where It Matters (2 days): Through discussions and case studies, this program aims to equip participants with a practice-oriented understanding of the key aspects of Marine Cargo Insurance underwriting. The program will also cover the application of INCOTERMS and their relationship to Marine Cargo Insurance. Participants will also learn the importance of vessel quality and how to underwrite for different types of cargo risks.
- Underwriting & Claims Aspects of Freight Forwarders' & Carrier's Liability Insurance (1 day): Through this program, participants will acquire an overview of how the coverage and exposure under Freight Forwarders’/Carrier’s Liability Insurance policies have changed in the light of these developments, and how insurers underwrite these risks.
- Facilitating International Trade - Marine Cargo Insurance (1 day): This program is aimed at raising the awareness of participants on the role that Marine Cargo insurance plays in support of international trade, in particular with regard to banking practices and trade and commodity financing.
- The Nuts & Bolts of Protection & Indemnity Insurance (1 day): Through classroom lectures and case discussions, this intensive program aims at providing insurance and shipping industry practitioners with a firm understanding of P&I Insurance, from its historical beginnings; the concept of mutuality; the structure of the P&I Clubs; the scope of coverage; the rating factors; as well as the claims considerations and procedures.
Short Courses (1 Hour CPD)
- Marine Hull Insurance: Through this session, participants will get to know who the people who need Hull Insurance are and what the covers are. They will also understand the needs of this group of people and the information required to place the risk.
- Goods-In-Transit Insurance: This session will provide participants with an understanding of the difference between a Voyage cover and a Goods-In-Transit cover; as well as the difference in risk exposure. With this knowledge, they will be in a better position to discuss this with their potential clients.
- Underwriting Marine Cargo Insurance: This session covers Cargo Insurance and the normal terms and conditions attaching to it. It also touches on the current state of the insurance market, as well as on the types of Cargo Insurance policies available.
LAST UPDATED ON Feb 20, 2017