Marsh Marine Insurance Course for Maritime and Insurance Professionals Specializing in Marine Insurance
Marsh is a global leader in insurance broking and risk management and is a wholly owned subsidiary of Marsh & McLennan Companies, a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people.
Marsh Marine Insurance Course equips you with an understanding of the management of risk in the commercial maritime world by examining the insurance cover provided by the main classes of marine insurance.
The five-day intensive courses are held in the UK and are accredited by the Chartered Insurance Institute (CII). This means that participating delegates can claim 30 continuing professional development (CPD) hours upon completion of the course.
The purpose of this program is to equip delegates with an understanding of marine insurance and provide a working knowledge of the main classes of insurance, including marine Cargo, hull, protection, and indemnity (P&I), and other liability coverage and how these interrelate.
The course examines standard coverage for each risk type, as well as providing 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 industry. This course is suitable for those who are new to marine insurance who wish to gain an overall knowledge of the various marine insurance classes.
Training Program
Marine Insurance Course
- The Marine Insurance Course will equip delegates with an understanding of the management of risk in the commercial maritime world by examining the insurance cover provided by the main classes of marine insurance such as cargo, hull, disbursements, war, strikes and piracy cover, protection and indemnity (P&I), and charterers’ legal liability coverage.
- The course examines standard coverage under widely used international conditions for each risk type, as well as the standard exclusions that can be expected to be found within each class of marine business. Special sessions on the principles and practices of general average and salvage help delegates understand how insurance plays a vital role in these unique maritime concepts.
- To be able to fully understand the role of insurance in the maritime industry and the way in which the industry operates, delegates will gain an understanding of the terminology used, stakeholders involved, Incoterms, and the documents essential to maritime trade.
- The course includes lectures on the different types of modern commercial cargo vessels and offshore support craft, the major international maritime conventions, and rules currently in force that have an impact on marine insurance. The course also covers other issues that need to be understood, such as international sanctions, maritime cyber risk, and maritime de-carbonisation.
- 5-day Course topics include:
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- How the commercial shipping world operates
- The background to modern marine insurance
- The Insurance Act (2015) (as amended by the enterprise act 2016)
- Subscription placements and the role of the marine insurance broker
- General average
- Cargo risk assessment
- Cargo insurance
- Marine war, strikes, and associated perils insurance
- Major commercial cargo vessel types and insurance issues
- Ocean marine hull insurance
- Marine insurance global navigation limits and ice routes
- Marine hull insurance for offshore support and port operating vessels
- Marine insurance claims matters
- Protection and indemnity
- Wider marine liability exposures
- Cyber risk in the maritime world
- Maritime de-carbonisation issues impacting on insurance
- Ports and terminal operators risk assessment and insurance cover (brief overview)
- Risk and insurance cover for marine financiers
- Maritime towage, heavy lift and supply contracts - the insurance implications