Description

ABOUT THE COURSETake advantage of this unique opportunity to experience the insurance market first-hand. Encounter the thrills of the trading floor and discover how the insurance market works. The visit includes a presentation outlining the history, structure and present-day activities. On this study tour, participants will:• Learn about the impending changes to insurance contract law• Examine what effect mega containerships will have on the insurance and reinsurance market• Find out how sanctions, piracy and Ebola impact insurance risk• Gain insight into key claims procedures and how to settle a claim• Discuss the opening up of trade routes in the Arctic region and the impact on insurance

COURSE CONTENT

• BANKSERVE INSURANCE SERVICES
• An introduction to marine insurance
• The Global Marine Insurance Markets 
•  The Marine Insurance Act 1906 - what you need to know
• Pending reforms of Insurance Contract Law
• Important policy terms
• Claims settlements: procedures in getting underwriters’ agreement to settle
• Collate the facts to determine the cause of loss
• Current factors affecting marine insurance
• War risks, kidnap and ransom 
• Practical experience of handling piracy cases and claims in West Africa
• Claims settlements: procedures in getting underwriters’ agreement to settle
• Today’s global commercial fleet: vessel types and insurance considerations
• Ocean-going vessel hull and machinery insurance
• Shipowners’ P&I club entry and the various international marine liability rules and limitations