Excerpt from course description

Roles of Insurance Brokers – Marine, Energy, Reinsurance and Framework


The course is an introduction to principal topics related to the insurance broker role within marine and energy insurance and reinsurance, including relevant legislation, regulations, standard-form contracts, etc. The focus of the course is on the insurance broker’s role as regards these types of insurance. The course is also an introduction to ethics and compliance related to the insurance broker’s role. The course is mandatory for persons seeking an insurance broker licence.

Course content

The course consists of three separate modules:

  • The insurance broker role relating to marine and energy insurance (approx. 50% of the course)
  • The insurance broker role relating to reinsurance (approx. 25% of the course)
  • External conditions relating to the insurance broker operations (approx. 25% of the course)


Marine and Energy

This module concerns insurance of traditional ships (including supply ships), mobile offshore units (MOU) and permanent offshore installations

Main topics:

  • Markets and market participants
  • Review of the insurance broker role in these markets
  • The insurance broker role in the various phases: (risk analysis and introductory sale; The tender and quota phase; The placement phase (syndication of risk); Documentation phase; Administration phase; Renewals.
  • Hull interest insurance
  • P & I insurance for traditional ships
  • Loss of hire insurance for traditional ships
  • MOU insurances (comprehensive, P & I and loss of hire)
  • Briefly on insurance of permanent offshore installations
  • War risk insurance for ships and MOU


  • What is reinsurance and what is the purpose of reinsurance?
  • Markets and market participants
  • Reinsurance solutions
  • The insurance broker’s role and tasks in the various phases

External conditions for insurance broker operations

  • Regulations and principles that an insurance broker is obliged to comply with and the systems that ensure compliance
  • ESG (Environment, Social and Goverance) - implications for the marine and energy insurance market
  • Compliance and ethics
  • In-depth discussions on selected topics


This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.