BSc in Maritime Studies / Бакалавр в Области Морских Наук

Course Details

Course Information Package

Course Unit TitleMARINE INSURANCE I
Course Unit CodeATMI201
Course Unit Details
Number of ECTS credits allocated5
Learning Outcomes of the course unitBy the end of the course, the students should be able to:
  1. List fundamental concepts of marine law and principles of marine insurance.
  2. Describe the nature and formation of the marine insurance contract.
  3. Outline the basic legal principles involved in the construction of the marine insurance policy.
  4. Enumerate types of marine insurance policies
  5. Outline statutory duties as regards disclosures, representations and warranties.
Mode of DeliveryFace-to-face
PrerequisitesNONECo-requisitesNONE
Recommended optional program componentsNONE
Course ContentsIntroduction : History and Development of Marine Insurance

The Contract of Marine Insurance:

Definition of the Marine Insurance Contract
Insurable Interest
Double Insurance
Right to Contribution
Return of Premium
Subrogation

Marine Insurance Contract Formation:
section 22, Marine Insurance Act 1906
The policy
Assignment of Policy
Rectification

Marine Insurance Policies:
Types of Marine Insurance Policies
Assignment of Policies
The Premium

Disclosures and Representations

Duty of Utmost Good Faith
Materiality
Standard of Prudence
Breach of Duty of Utmost Good Faith

Warranties
Express Warranties
Implied Warranties

Provision of practical examples and case studies in the following areas:
Cargo Insurance
Protection & Indemnity (P. & I.)
Collision Claims
Particular Average Claims
Salvage Claims
Builders Risks Insurance
Yacht Insurance
Recommended and/or required reading:
Textbooks
  • Hodges Susan, "Cases and Materials on Marine Insurance Law", 2003, Cavendish Publishing Ltd, England
  • Hodges Susan, "Law of Marine Insurance", 2004, Cavendish Publishing Ltd, England
  • Bennett, H.N. "The Law of Marine Insurance", 1996, Oxford University Press
References
  • Marine Insurance Act 1906
  • Robert H. Brown, "Marine Insurance Principles and Basic Practice", 1998, Witherby & Co. Ltd, England.
Planned learning activities and teaching methodsLectures, discussions & presentations
Assessment methods and criteria
Mid-tem exam40%
Final Exam60%
Language of instructionEnglish
Work placement(s)NO

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