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09-11-2020 (Live Online)

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Live Online: Marine insurance

9-12 November 2020 | 9:00 am – 1.00pm (SGT) | Live Online

Book Now Register Your Interest Download Brochure

Early Bird Rate: Register & Pay by 18 September 2020
Register 2 Delegates & the 3rd Comes free!

overview

About The Course

This masterclass enables attendees to assess the risks associated with chartering vessels & cargo transportation, and equip them with advanced-level knowledge of marine insurance and the role it plays in their shipping business. Through highly interactive lectures, discussions and case studies, the course will examine contracts, clauses, regulations and legal issues. At the end of the programme, you will understand how marine insurance works, the formation of contacts, principles behind common & specialised coverage, and how best to manage your contracts.

Numerous discussions will put emphasis on contemporary developments, including the impacts on marine insurance by Covid-19, global cargo movements and international trade policies; INCOTERMS 2020; Salvage & General Average as well as legal issues relating to claims.

 

Key Learning Outcomes & Case Studies Include

  • Protect your assets with better understanding of marine insurance policies
  • Gain latest updates on marine insurance market, in-depth examination of regulatory issues
  • Understand contract formations and effective management of contacts
  • Examine principles of H&M insurance, Cargo
  • Insurance, P&I and Charterers’ Liability
  • Analyse your liability cover and specialized coverage to prepare for unforeseen situations
  • Marine liability – impact assessments from Covid-19
  • Trade sanctions and impacts on marine cargo policies
  • Interpret & scrutinise various terms in insurance policies
  • Assess legal issues relating to claims, examine your exposure versus coverage

pricing

Packages Price
Live Online LearningSGD $2876Early Bird

Early Bird Rate: Register & Pay by 18 September 2020

Register Group of 10 for SGD $12,950

Register 2 Delegates & the 3rd attends FREE!
Group rate is based on normal rate only.
For Group Registrations, email register@informa.com or call +65 6508 2401

  • Special Group Discount pricing is applicable to groups of 2 or more delegates from the same organization registering for the same event, at the same time.
  • Fee stated is the discounted price PER DELEGATE. Only one discount applies – either the early bird rate OR the Special Group Discount.
  • A 7% Goods & Services Tax (GST) is applicable to all Singapore based companies for Singapore venue.
  • View payment terms and bank transfer details, click here »

Course Director

Prof. Martin Davies

View profile »

Live Online Learning

Stay Home. Skill Up!

The current Covid-19 pandemic has put strains on various areas of business, especially when it comes to deriving commercial value from new initiatives. During this phase of self-isolation and working from home, we can help you meet your professional development needs and you can still take your professional development plans to the next level.

To support your learning goals we have converted our face-to-face trainings to LIVE Online Sessions. This way you can continue to attend live and interactive training sessions within the virtual classroom space where you can see and speak, with your Subject Matter Expert and other participants.

Benefits of Live Online Learning

Aimed at offering you immediate, high-quality practical information whilst minimising time and expenditure associated with travelling, our digital training platform enables you to interact in real time with course directors and remotely network with your fellow participants.

  • Classroom Experience: Progress with fellow participants as you would in an on-site class
  • Guaranteed cost-effectiveness: Travel budget saving, plus 20% price advantage for online participation
  • Controlled environment with speakers managing the Q&A and discussions and tools for enhanced interactions
  • Module-based approach to effectively manage your time and revisions
  • Earn your Digital Certification and broadcast your achievements to your peers
  • Onboarding: Available for all attendees
  • Proven and secure training platform

 

Click here to know more >

Digital Badge

Upon completion of this training course, participants will earn a digital badge.

Eligibility:
Attend and participate in the full training course duration, led by the designated training expert

Available to:
Seminar attendees

Digital Badge FAQ >

Agenda

MODULE 1

HOW THE MARKETS WORK AND FORMATION OF MARINE INSURANCE CONTRACTS

  • The players and their roles
  • The Lloyd’s market
  • Marine Insurance Act 2015
  • Consumer insurance (Disclosure and Representations) Act 2012
  • Contract formation in a subscription market – Lloyd’s and the LMP Slip
  • Contract formation in a non-subscription
  • Market – the role of brokers
  • The Law of Agency
  • Non-disclosure and utmost good faith (uberrimae fides)
  • Open cover and declarations

 

TERMS IN MARINE INSURANCE POLICIES

  • Warranties & conditions
  • Exclusions
  • Disclosure and non-disclosure
  • Express & implied terms
  • Underwriting process

 

INSURABLE INTEREST, AN ESSENTIAL REQUIREMENTS

  • The meaning of insurable interest – protection against “moral risk”
  • Insurable interest in cargo insurance: Incoterms
  • and the importance of the sale contract
  • Limited interest, multiple assureds

 

MODULE 2

HULL AND MACHINERY INSURANCE

  • Basic hull cover and exclusions
  • International Hull Clauses 2003 and Institute
  • Time Clauses – Hulls 1995
  • The Inchmaree Clause
  • Sue and labour
  • Seaworthiness warranties
  • Agreed Value v. Sum Insured

 

CARGO INSURANCE

  • Law & Jurisdiction
  • INCOTERMS 2020
  • Basic cargo cover and exclusions
  • Cargo types and insurance issues for each
  • Institute Cargo Clauses A, B and C 2009
  • Specialized commodities coverage
  • Risks & perils
  • Insurance duration
  • Claims & losses

 

P&I AND CHARTERERS’ LIABILITY COVER

  • Club rules
  • The omnibus rule
  • Commercial indemnity cover
  • Coverage generated
  • Liability
  • Excluded risks
  • Termination of cover

 

MODULE 3

SPECIALISED COVERAGE

  • War risks
  • Strikes
  • Piracy
  • Marine K&R
  • Maritime Cyber risk
  • mariein

 

MARINE LIABILITY DURING COVID-19

  • Liability to seamen & other persons on board
  • Expenses incidental to the operations of ships
  • Diversion expenses
  • Quarantine expenses
  • Fines
  • Cargo-related claims

 

SALVAGE & GENERAL AVERAGE

  • Lloyd’s Open Form 2000 + SCOPIC
  • Clause 2007
  • York-Antwerp Rules 2004
  • Threats to the environment
  • GA absorption policies
  • Which insurer pays for what?

 

MODULE 4

REINSURANCE

  • Privity of contract
  • Types of reinsurance
  • Reinsurance in practice
  • Different categories of contracts
  • Methods of transaction
  • Relationships between primary & reinsurance contracts

 

TRADE SANCTIONS AND MARINE CARGO POLICY

  • Recent sanctions developments
  • KYC Due diligence
  • Exclusions
  • Termination/cessation

 

LEGAL ISSUES RELATING TO CLAIMS

  • Measure of indemnity – how much do I get?
  • Deductibles
  • Proximate cause – is my loss covered?
  • Constructive total loss
  • Abandonment and notice of abandonment
  • Claims co-operation requirements

when & where

09 - 12 Nov 2020

9:00am-1:00pm (SGT)
Live Online

On-site & in-house training

Deliver this course how you want, where you want, when you want – and save up to 40%! 8+ employees seeking training on the same topic?

Talk to us about an on-site/in-house & customised solution.

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