BSc in Maritime Studies / Бакалавр в Області Морських Наук

Course Details

Course Information Package

Course Unit TitleMARINE INSURANCE II
Course Unit CodeATMI202
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. Identify and describe types of losses, liabilities and marine risks
  2. Distinguish between marine perils subject to the provision of exercise of due diligence by the assured and marine perils subject to the provision of exercise of due diligence by the assured, owner and manager.
  3. Outline important concepts in the Suing and Labour Clause.
  4. Understand fundamental principles of reinsurance.
  5. Apply the concepts of marine insurance in demonstrated cases of General Average claims, C.T.L claim and Piracy
Mode of DeliveryFace-to-face
PrerequisitesNONECo-requisitesNONE
Recommended optional program componentsNONE
Course ContentsTypes of Losses
Actual and Constructive Total Loss
Total Loss of an apportionable part
Notice of Abandonment

Liability and Marine Risks

Marine Perils that are not subject to the proviso of  exercise of Due Dilligence  by the Assured:
Perils of the Seas
Fire and Explosion
Piracy
Marine Perils that are subject to the provision of exercise of Due Dilligence by the Assured, Owner, or Manager:
The Inchmaree Clause
Excepted Perils

The Suing and Labour Clause

Recovery of costs incurred by the assured that are associated with the aversion and minimisation of loss by him or his agents after the occurrence of an insured peril.

Reinsurance

Origins of Marine Reinsurance
Purpose of Reinsurance
Reasons for effecting reinsurance
Principles
Types of Reinsurance (facultative, quota share, non-proportional (surplus & excess of loss))

Case Study of General Average claim

(Presentation and discussion)

Case Study of C.T.L. claim

(Part of the T.L. / C.T.L. lecture)

Presentation of a recent Law Case on Piracy

(Presentation and discussion)

Mortgagees Interest Insurance (M.I.I.) & Mortgagees Additional Perils (Pollution)

Historical background
Definition
Purpose of M.I.I. and M.A.P. (P.) covers
Examples
Recommended and/or required reading:
Textbooks
  • Hodges, Susan, (2003), "Cases and Materials on Marine Insurance Law", Cavendish Publishing Ltd, England
  • Hodges Susan, (2004), "Law of Marine Insurance", Cavendish Publishing Ltd, England
  • Bennett, H.N. (1996), "The Law of Marine Insurance", 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 methods


Lectures, discussions & presentations
Assessment methods and criteria
Mid-term exam40%
Final Exam60%
Language of instructionEnglish
Work placement(s)NO

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