Introduction to Ocean Marine Insurance (5 days)

From Monday 01 June 2020 -  10:00am
To Friday 05 June 2020 - 05:00pm


Overview: This 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.

This class will include a tour "Maritime History in Financial District, New York" on June 3rd from 2:30 to 5pm.

Steve Gillen, Global Head of Specialty & Marine Claims, AIG
John Evans, AMIM CPCU, VP, Starr Marine, 
Rich Roenbeck, SVP, Nausch, Hogan & Murray, Inc.
John Ellis, Head of Ocean Marine US, Canopius Insurance Services
Chris Hill, AVP, Berkley Offshore Underwriting Managers
Chris Law, AVP, Loss Control Manager, Hull & Marine Liabilities, Starr Marine
Joseph Grasso, Wiggin & Dana
Nathan Ahart, RLI Insurance Co

Continuing Education Credits: 
NAMS: 30 credits  SAMS: 30 credits

State Insurance Departments:  
15 credits in NY, NJ



  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.

  1. Laws and Regulations: COGSA, Harter Act, OPA 90, Jones Act, Visby Amendments, Hamburg Rules, Warsaw Convention


  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


  1. Claims Handling

  2. Reinsurance

  3. Admiralty Law



  1. Introduction and Devlopment of Protection and Indemnity Coverage
    1. Brief History (advent of coverage in the UK)
    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
      1. Loss of Life / Personal Injury
      2. Maintenance and Cure
      3. Third Party Liabilities
      4. Wreck Removal
    2. Exclusions
      1. Coverages Provided
        1. Contractual Liability
        2. Punitive/Exemplary Damages
        3. Liability for damage to cargo, etc.
        4. 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


    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


  1. American Institute Hull Clauses: Assured clause, Loss Payee clause, Covered Property, Perils clause, War Strike exclusions, Inchmaree 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

Program Features: Continental Breakfast Lunch Handouts & Lecture Notes

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 John A. Miklus at (212) 233-0550

Refunds/Cancellations/Substitutions: Refund requests will be honored if received at least 48 hours prior to the scheduled start date. All refunds will be subject to a processing fee of 4%. Cancellations received after the refund deadline and "no shows" are subject to the full registration fees. Substitutions may be made by notifying AIMU via email or in person on the day of the event.

Location 14 Wall Street, 8th floor, New York, NY 10005
Contact Elvira Rodin at
For questions about educational credits, contact our Education/Training Specialist, Eileen Monreale
Office phone: 212-233-0550