Marine Insurance Fundamentals

 
7th-8th April, 2020 Athens, Greece

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ABOUT THE COURSE

The Marine Insurance Fundamentals Course will help participants in learning the principles of marine insurance. The primary topic covered in this course will discuss the foundations of marine cargo & marine hull insurance. After completing this course, Participants will be able to understand marine insurance laws,international maritime law, liability, protection, indemnity (P&I), General Average and Salvage. Furthermore, a discussion of the risks & threats that causes hacking and cyber attacks in the field of marine insurance & how they deeply affect market growth. Participants will understand the importance of cybersecurity for shore-based maritime industry activities, monitor cyber incident investigations and emergency response mechanisms, address existing threats and mitigate possible cyber-attacks. A narrow brief on the recent law cases and legal aspects of total loss claims will also be examined.

  • A fundamental understanding of Marine Insurance
  • The primary substructure of marine insurance
  • Overviewing Marine Cargo Insurance and its fundamentals
  • Comprehending Marine Hull and Machinery Insurance
  • Identifyingthe factors driving the marine insurance market
  • Introduction to Protection & Indemnity Claims
  • Explaining marine reinsurance & marine coverage
  • Learning about Maritime Cyber Risks- causes and ways to prevent it
  • Additional legal practices and more aspects of marine insurance
  • Marine claim handling, recent law cases and legal aspects of total loss claims

COURSE OUTLINE



Marine Insurance Fundamentals


Athens, Greece

DAY 1
 
 
Principles of Marine Insurance:

 

  • Basics of Marine Insurance
  • Legal & Practical Aspects of Marine Insurance
  • History of the development of Marine Insurance
 
Marine cargo insurance:

 

  • What is Marine Cargo Insurance
  • Types of Cargo Insurance
  • Issues Related to each Types
  • Case studies
 
Marine Hull and Machinery Insurance:

 

  • Hull and Machinery insurance
  • Types of claims
  • Ocean hull and port operating vessels
  • Issues Related to each Type
 
The Marine Insurance Market:

 

  • Application of marine insurance in shipping business
  • Concept of mutuality in P&I Associations
  • Classes of risk covered
DAY 2
 
 
Other marine coverages:

 

  • War Risks etc.
  • C.E.N.D. (Confiscation – Expropriation – Nationalization – Deprivation)
  • Maritime cyber risk
  • Marine reinsurance
  • Small Yacht Claims
  • Salvage Claims
  • Charterers Liability
  • Mortgagee Interest Insurance (M.I.I.)
  • Mortgagees Additional Perils (Pollution) (M.A.P.(P.))
 
Protection & Indemnity Claims:

 

  • Protection & Indemnity Claims
  • Types of claims covered
  • Components of the policy
 
General average and salvage:

 

  • The concept of General Average (GA)
  • Rules: role and function
  • GA contributions are covered under marine insurance policies
  • GA settlement
  • Salvage principles
  • Salvage claims and salvage law
 
Legal Aspects:

 

  • Marine Insurance Law
  • Insurance contract
  • Maritime Law
  • International Maritime Law
  • U.K. Marine Insurance Act 2015

   

Our Trainer is Manager of J. Kouroutis & Co. Ltd. Insurance and Reinsurance Brokers, Piraeus, Greece. Since March 2008 he has been a Visiting Lecturer on Marine Insurance at Frederick University, Cyprus and since March 2016 at the MSc of International Shipping, Finance and Management of the Athens University of Economics and Business, Greece. He holds a PhD in Actuarial Science and an MSc in Shipping, Trade & Finance from Sir John Cass Business School, The City University, London, UK, and BSc (Hons.) in Economics from the University of Athens. He is member of the Piraeus’ Professionals Chamber, the Cyprus Statistical Society and the US Propeller Club, port of Piraeus. His research area is Marine Insurance with emphasis into areas of Piracy, Fishing Vessels, Ferries, etc. This research has been presented in professional and academic conferences and published in journals and the press.

 

 

*Early Bird ends on 19th FEB 

 

FEE
 
Euro 799(Early bird Price)
Euro 999 (usual Price)
Athens, Greece(7th-8th April, 2020)

 

Registration fee only covers cost of all sessions, luncheon, coffee/tea & presentations. Fee does NOT include any travel or accommodation expenses. Fee is not inclusive of 8% Admin/Bank Charges.

 

Venue:

Venue (4-5 star Hotel) will be confirmed 4-6 weeks prior to the event to ensure we choose the best space for you, as the number of attendees varies significantly. Also, please note there will be a discounted accommodation rate for attendees.

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