Summary
This course revisits some sections of the introductory course and covers them in more detail. The course also introduces delegates to the Marine Insurance Act 1906 and General Average.
This course is appropriate for people who are already handling cargo insurance business who would like to have more in-depth knowledge of the subject matter.
What we will cover
Develop from the introductory course to discuss the following:
- Specialist cargos, their susceptibility to damage and how they are handled
- Terms of sale in more depth
- Termination of cover under institute clauses
- Institute B and C clauses
- A variety of institute commodity clauses, timber frozen foods
- Marine Insurance Act 1906 – an awareness of its terms
- An appreciation of the Marine Insurance Act 1906
- General Average – a wider appreciation
By the end of this course you will:
Explain the background to marine cargo insurance
Explain why marine cargo insurance is required
Demonstrate a knowledge of how the principles of insurance relate to marine cargo insurance
Describe the relevance of the institute clauses
Explain the phrase ‘terms of sale’
