• Definition of risk (direct loss/consequential loss) and insurability of risk;

• Risk management (risk avoidance, control, transfer and retention); 

• The fundamental principles of insurable interest, utmost good faith and indemnity;

• Types of risk in shipping (actual total loss, constructive total loss, partial loss, third party liability, expenses);

• Types of insurance cover (Hull & Machinery, Protection & Indemnity, Freight, Loss of Hire, War and Strikes Risks, Freight, Demurrage & Defence insurance, Cargo insurance);

• Salvage and General Average;

• Liability for maritime claims, global limitation and their relation to marine insurance.

The intended use of this module is such that you progress from unit 1 through to unit 10 in unit order. The module is designed to introduce and explain the material you are expected to learn. All the readings from the recommended textbooks associated with a specific unit, will be identified. Furthermore, any relevant readings associated with a particular topic will be stated at various points within the unit, wherever appropriate. It is worth noting that all readings provide a good source of additional examples on which you can practice if you so wish.

The on-line learning environment provides an opportunity for receiving on-line feedback from the Module Instructors during your study and you are strongly advised to take advantage of this. In addition, you will be encouraged to interact both with other students and your instructor so that you feel part of an on-line community of learners that belong to the University network.

Recorded lectures/ Narrated presentations

You may be asked to watch a recorded lecture or narrated presentation posted on the web addressing the main concepts of a particular unit.

Dynamic Online Interaction: 

 • Asynchronous communication tool (Discussion Forum)

You may be asked to participate, wherever appropriate, in an online forum posting your views on certain topics covered in a particular unit.  

 • Synchronous communication tool (instant messaging)

Using the synchronous communication tools (such as, skype, chat rooms, video-conferencing, or telephone etc.), you may discuss with the Module Instructor(s) and/or other students on line with reference to specific issues covered in a given unit.

Self-assessment:

Throughout the Study Guide, you will find various forms of assessment/ self-assessment as follows: 

 - Online multiple choice questions on the topics covered. 

 - Online review questions designed to provoke thought/ action and reflection on the topics covered in each unit and their applicability in real life.

 - Online case study exercises that are designed to check that you can correctly identify relevant issues and apply concepts covered in a specific unit.

 - Discussion forum participation based on recommended articles and the questions offered for dynamic online interaction.

 - Instant messaging participation.

 - Further readings beyond those already recommended in this Guide.