INTRODUCTION 

TO 

OCEAN MARINE INSURANCE 

AN 

EDUCATION & TRAINING COURSE  

AMERICAN INSTITUTE OF MARINE
UNDERWRITERS

held at 

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

in

March
(see course schedule for exact dates)

Course Description  

This certificate program is designed to provide participants with an essential understanding of the fundamentals of ocean transportation e.g. vessel types, trading partners, terms of sale, and the laws/regulations governing shippers and carriers.  Analyze hull, cargo and marine liability coverages: parties covered, cause of loss, additional perils, exclusions, warranties, duration of risk, adjustment clauses, operating clauses, strikes riots and civil commotions, war risk insurance, etc. 

Who Should Attend: 
Insurance company underwriters, claims personnel, surveyors, maritime attorneys, insurance agents and brokers, loss prevention and risk managers, personnel involved with shippers and carriers 

Continuing Education Credits:
       State Insurance Departments
                New Jersey    15 Credits
                New York       15 Credits
                Connecticut    15 Credits

MONDAY

FUNDAMENTALS OF SHIPPING 
 

1.  Domestic and International Shipments 

2. Vessel Types: Bulk, Break-Bulk, Containerization, Ro Ro, Heavy-lift, Tanker, LNG, Lash, Specialty Vessels.

3. Trading Partners and Terms of Sale

Shipper and Consignee, Selling terms and Incoterms, Methods of Payment, Documentation of Foreign Trade,  Freight Forwarder and custom brokers, Carriers; common, contract, voyage, time,    bareboat, private.

4. Laws and Regulations:

Cogsa, Harter Act, OPA 90, Jones Act, Visby Amendments, Hamburg Rules, Warsaw Convention
 

TUESDAY

CARGO INSURANCE 

1. Introduction 

2. The Open Cargo Policy 

Parties covered: Importers/Exporters, F.F., Associations, S/S Lines, NVOCC; Perils Clause; All Risks Coverage; Exclusions (Delay, Loss of Market, Inherent Vice); FC&S/SRCC exclusions; Duration of Risk: Terms of Sale, Warehouse to Warehouse Clause,  Marine Extension Clause, South American Clause; Operating Clauses: Loss Payable, Goods Insured, Attachment, Valuation Clause, Limits of Insurance, Accumulation, Duty Insurance, Whse/Whse Clause, M.E.C. Clause, South American Clause, Cancellation Clause; Additional Coverages: Warehouse Coverage, Inland Transit Coverage, Processor’s Risk Coverage, Exhibition Coverage, Contingency/DIC, FOB/FAS; General Topics: Policy Rating Approaches, Loss Experience, Loss Exposure/Packing & Prevention
 

WEDNESDAY
HULL INSURANCE

1. American Institute Hull Clauses: Assured clause, Loss Payee clause, Covered Property, Perils clause, War Strike exclusions, Inchmere clause, Liner Negligence, Pollution Hazard clause, General Provisions (claims clause), Deductible clause, Sue and Labor clause, Total Loss clause, General Average and Salvage clause, Collision Liability clause.

2. Taylor Hull and American Institute Tug Forms 

3. Coastwise and Inland Clauses 

4. Hull War Risks and Strikes Endorsement 

5. Builders Risk 

THURSDAY

LIABILITY & LOSS CONTROL

P & I INSURANCE POLICY

1. Introduction and Development of Protection & Indemnity Coverage

   1)       Brief History (advent of coverage in the U.K.)

   2)       Merchant Marine Act of 1920 (Jones Act)

   3)       Explanation of Fixed Cost P&I versus P&I Clubs

   4)       Types of use for the different forms

2.  Protection and Indemnity Clauses – SP-23

   1)       Coverages Provided

    a).     Loss of Life / Personal Injury

    b).     Maintenance and Cure

    c).     Third Party Liabilities

    d).     Wreck Removal

   2)       Exclusions

    a).     Contractual Liability

    b).     Punitive / Exemplary Damages

    c).     Liability for damage to cargo, etc.

    d).     War, etc.

3. Protection and Indemnity Clauses – SP 38

4. AIMU Protection and Indemnity Clauses

5. Coverage Comparison – AIMU P&I Clauses vs. other P&I Insuring Forms

LOSS CONTROL
TYPES OF MARINE SURVEYS

1. Who may request a survey

2. Condition and Value Surveys

3. Marine Liability Surveys

4. Trip and Tow Surveys and Suitability Surveys

5. On & Off Charter Surveys (on & off Hire Surveys)

6. P & I Loss Control Surveys

7. Cargo Packing Survey

8. Cargo Load, Stow & Securement Survey

9. Heavy Lift Surveys

10. Storage Site Surveys

11. Hull and Machinery Damage Surveys

FRIDAY
ADDITIONAL OCEAN MARINE FUNCTIONS

1. Claims Handling

2. Reinsurance

3. Admiralty Law

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
Certificate of Completion

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