INTRODUCTION TO HULL INSURANCE

AN EDUCATION & TRAINING COURSE  

 held at 

American Institute of Marine Underwriters
14 Wall Street, 8^th Floor, Suite 820
New York, NY 10005

(see course schedule for exact dates)
Fee:  Member $400   Non-Member $700

COURSE DESCRIPTION

This course will review the forms and clauses used to insure hull and machinery damage coverage for blue and brown water vessels.  Students will study the insuring agreements, conditions, exclusions, limitations and special features of the forms.  Underwriting and claims principles and practices will be discussed.  Learn about surveyors and the different types of surveyors that can be assigned and utilized to improve the risk and/or assist in the claims process.

Who Should Attend:

Insurance company underwriters, trainees, claims personnel, surveyors, agents or brokers, shipowners, charterers and maritime attorneys.

Continuing Education Credits:
       State Insurance Departments
                Connecticut   12 Credits           Massachusetts  10 Credits
                New Jersey   12 Credits            New York          12 Credits             

PART I

HULL INSURANCE
 

1.  Major Hull Clauses – Brief Discussion Compare / Contrast

a.  Blue Water        -    American Institute Hull Clauses (AIHC) 1977

                            ITC London 2002

                            Norwegian Plan

b.  Brown Water      -   AHIC

                           Taylor Form

                           Tug Form

c.  Claims

-  GA vs. PA

-  Unrepaired Damage

d.  General Average & Salvage

-  Duties under form

-  Salvage vs. Wreck Removal

-  Additional Limit

2.  AIHC Discussion of Clauses

a.  Assured

b.  Loss payee

c.  Subject matter

d.  Duration, Agreed Value, Amount

e.  Deductible, Premium, Returns

f.   Adventure

-  Breaches

g.  Perils

-  Named Perils

h.  Additional Perils

-  Liner Negligence

i.   Deliberate Damage

j.   Total Loss

k.  Sue & Labor

-  Additional Limit

l.   Collision Liability

-  4/4th, 3/4th, F&FRO

-  Additional Limit

m. Pilotage, Towage, Change of Ownership

n.  Additional Insurances

-  IV, Disbursements

o.  War, SRCC exclusion

-  War risk cover

p.  Additional Coverages

-  RACE clause

PART II

UNDERWRITING

1.   Introduction

2.  Understanding the Risk

a.  Application/Information Gathering Process

-  Operation

Specifics of exposure; waters, how often, doing what, etc.

Tug & Barge vs. passenger vessel vs. commercial fishing, etc.

-  Vessel owners and experience

History of assured with this type operation

Financials

-  Crew compliment and experience

Hiring practices; number of crew, experience, etc.

-  Vessel specifics

Blue vs. Brown water

Age, size, design, construction

Condition

Valuation

-  Loss history

5 year minimum with detailed information

b.  Underwriting the producer

-  Relationship with producer

-  Book of business/Experience

-  Profitable or not

3.  Rating Plans and Setting Policy Terms

a.  Appropriate policy form for intended use and operation of vessel(s)

b.  Exposure vs. Loss Rating; “As If’s” and there application

c.  Impact on premium of Broad vs. Restrictive terms

d.  Credits and debits to apply

PART III

CLAIMS ADMINISTRATION

1.  Notice of Claim

2.  Investigation

3.  Documentation

4.  Proof of Loss

5.  Methods of Settlement

PART IV

SURVEY INFORMATION

1.  Introduction

a.  The need for a survey

b.  Historical background

c.  Survey organizations

d.  Survey procedures and mechanism following casualties – interaction between Owner, Broker,

     Surveyor, Underwriter

2.   Salvage

a.  Salvage from the viewpoint of the Underwriters surveyor

b.  Different salvage contracts – which type and when

c.  Relationships, Owners Salvors Underwriters Surveyor

3.  Damage Surveys

a.  Hull

b.  Machinery

c.  Guidance for Owners Representatives

4.  Claims Presentation

a.  Interaction between Owners, Adjuster, Surveyor

5.  Other Survey Types Behalf Underwriters, Other Issues

a.  Loss of hire

b.  Cargo

c.  Hull surveys on behalf of cargo interests

d.  Warranty surveys and denial of claims

e.  Conflicts of interest

Special Assistance

In Compliance with the American’s with Disabilities Act, AIMU will make all reasonable efforts to accommodate persons with disabilities at its meetings.  Please call James M. Craig at (212) 233-0550.

Refunds/Cancellations/Substitutions
Refund requests will be honored if received in writing by 15 days prior to scheduled start date.  All refunds will be subject to a processing fee of $25.  Cancellations received after the refund deadline, “no shows” are subject to the full registration fees.  Substitutions may be made by notifying the conference registrar in writing or in person at the on-site registration desk.

Program Features

Continental Breakfast

Lunch

Handouts & Lecture Notes

For Additional Program Information Contact Us At:

Phone: (212) 233-0550 l Fax (212) 227-5102

Email: aimu@aimu.org l Web: www.aimu.org   

Click here for registration form