Excerpt from course description

Marine Insurance

Introduction

The course gives an introduction to international marine insurance, which is insurance for ships and ships operations. Both direct insurance and reinsurance is covered. The students will learn the basics of marine insurance as opposed to non marine insurance. Common insurance terms are discussed, as well as the specific terms applicable to marine insurance covers. The course covers the marine insurance markets worldwide as well as the conditions and rules applicable to different covers, focusing on on of the worlds largest insurance market, the Scandinavian market. The students will learn to identify the Owners, Charterers and other third party insurable interests in the vessel. The course focuses on capital insurance, insurance for potential legal liabilities and insurance against freight losses and war risks. The principal covers and conditions for H&M insurance, P&I insurance, TLO, freight and war insurance are covered. There will be an emphasis on practical case work.

Course content

  • Introduction to marine insurance, terms and abbreviations
  • Insurance and reinsurance
  • Mutual and commercial insurance
  • The Norwegian Marine Insurance Plan
  • Insurable interests of shipowners, charterers and third parties
  • The marine insurance markets world wide
  • The attachment, duration, alteration and termination of the insured risk (including change of voyage, deviation and delay)
  • Warranties (express and implied)
  • Conditions and other terms
  • Hull and Machinery Insurance
  • P&I
  • Total Loss only insurance
  • Freight insurances
  • War risk insurance
  • Third party covers
  • Clams handling and practical case work

Disclaimer

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.