Shielding the Seaways: Marine Insurance and Claims Handling Training Course

Introduction

The global maritime industry, a cornerstone of international trade, is inherently exposed to a myriad of risks, from perils of the sea and natural disasters to collisions, piracy, and cargo damage. Marine insurance serves as the vital financial safeguard, mitigating these immense financial exposures for shipowners, cargo owners, and other stakeholders. A thorough understanding of marine insurance policies, their intricacies, and the precise procedures for handling claims is therefore indispensable for safeguarding investments and ensuring the smooth flow of commerce.

This intensive training course is meticulously designed to equip participants with a comprehensive and practical understanding of marine insurance principles and the efficient handling of marine claims. From mastering the various types of marine policies (hull, cargo, P&I) and interpreting key policy clauses to navigating the complete claims lifecycle, including investigation, adjustment, and settlement, you will gain the expertise to effectively manage risk and respond to incidents. This empowers you to protect maritime assets, secure financial recovery, and contribute to the resilience and stability of global supply chains.

Target Audience

  • Marine Insurance Underwriters and Brokers.
  • Claims Adjusters and Surveyors.
  • Shipping Company Executives and Operations Managers.
  • Freight Forwarders and Logistics Professionals.
  • Import/Export Managers.
  • Legal Professionals specializing in Maritime Law.
  • Financial Managers in Maritime-related Businesses.
  • Anyone involved in managing risk or claims within the maritime sector.

Duration: 10 days

Course Objectives

Upon completion of this training course, participants will be able to:

  • Understand the fundamental principles and legal framework of marine insurance.
  • Grasp the different types of marine insurance policies (Hull & Machinery, Cargo, P&I) and their specific coverages.
  • Analyze key clauses and warranties commonly found in marine insurance policies.
  • Comprehend the complete marine insurance claims handling process, from notification to settlement.
  • Evaluate methodologies for assessing loss, appointing surveyors, and collecting evidence for claims.
  • Develop practical skills in negotiating and adjusting marine claims effectively.
  • Navigate the complexities of subrogation, general average, and salvage in the context of marine claims.
  • Formulate robust strategies for risk mitigation, loss prevention, and efficient claims management in maritime operations.

Course Content

  1. Fundamentals of Insurance and Marine Insurance
  • Principles of insurance: utmost good faith, indemnity, insurable interest, subrogation, proximate cause
  • History and evolution of marine insurance
  • Sources of Marine Insurance Law : Marine Insurance Act, international conventions, market practice
  • Parties involved in marine insurance: Insured, Insurer, Broker, Underwriter, Adjuster
  • Overview of the London marine insurance market and other global centers
  1. Types of Marine Insurance Policies
  • Hull and Machinery (H&M) Insurance : coverage for physical damage to vessels
  • Cargo Insurance : coverage for loss or damage to goods in transit
  • Protection and Indemnity (P&I) Insurance : third-party liabilities (personal injury, pollution, wreck removal)
  • Freight, Demurrage, and Defence (FDD) insurance
  • War Risk insurance and Strike, Riots, Civil Commotions (SRCC) cover
  • Specialized marine insurance policies (e.g., offshore energy, yacht)
  1. Marine Insurance Policy Clauses and Interpretation
  • Institute Clauses : Institute Cargo Clauses (A, B, C), Institute Hull Clauses
  • Specific perils vs. All Risks coverage
  • Warranties, conditions, and exceptions in marine insurance policies
  • Duration of cover: "warehouse to warehouse" clause, voyage vs. time policies
  • Valuation clauses: agreed value, market value
  • Understanding policy deductibles and excesses
  1. The Marine Claims Handling Process: Overview
  • Initial Notification of Loss : prompt action, gathering preliminary information
  • The role of the claims handler and their responsibilities
  • Appointment of surveyors and adjusters
  • Collection and documentation of evidence
  • Establishing the cause and extent of loss
  • Communication with all involved parties
  1. Cargo Claims Handling
  • Types of cargo losses: total loss, partial loss, shortage, damage
  • Procedures for Cargo Claims : notice of claim, lodging claim against carrier
  • Documents required for cargo claims: Bill of Lading, Commercial Invoice, Packing List, Survey Report
  • Determining the extent of damage and assessment of value
  • Under-deck vs. on-deck cargo considerations
  • Salvage sale of damaged cargo
  1. Hull & Machinery Claims Handling
  • Types of H&M casualties: collision, grounding, fire, machinery breakdown
  • Reporting and Investigating H&M Claims : immediate steps, casualty notification
  • Role of marine surveyors in H&M claims
  • Repair procedures, dry-docking, and temporary repairs
  • Claims for loss of hire and business interruption
  • Deductibles and average adjustments in H&M claims
  1. Protection & Indemnity (P&I) Claims Handling
  • Scope of P&I Cover : liabilities to crew, passengers, third parties, pollution, wreck removal
  • Role of P&I Clubs: mutual insurance, club rules, calls
  • Handling personal injury and illness claims
  • Pollution claims: CLC Convention, Bunker Convention
  • Cargo liabilities under P&I
  • Relationship between P&I and H&M insurance
  1. General Average and Salvage
  • General Average : definition, principles, contributing interests, common safety
  • Procedure for general average declaration and adjustment
  • Role of the General Average Adjuster
  • General Average bond and guarantee
  • Salvage Law : types of salvage, principles of "no cure, no pay"
  • Lloyd's Open Form (LOF) and other salvage agreements
  • Remuneration for salvage services
  1. Loss Prevention and Risk Mitigation
  • Proactive measures to prevent losses: safety management systems, risk assessments, crew training
  • Role of Surveys : pre-loading, draft, on/off-hire surveys
  • Packaging and stowing best practices for cargo
  • Contingency planning for maritime incidents
  • Data analysis for identifying common loss causes and trends
  • The link between effective risk management and insurance premiums
  1. Dispute Resolution and Subrogation
  • Subrogation : insurer's right to pursue recovery from third parties
  • Negotiations in claims settlement: strategies and best practices
  • Mediation and arbitration for marine insurance disputes
  • Litigation in admiralty courts
  • Enforcement of claims and recovery from negligent parties
  • Case studies and real-world examples of complex claims.

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

For More Details call: +254-114-087-180

 

 

Shielding The Seaways: Marine Insurance And Claims Handling Training Course in France
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