Course price

Discounts

10% group discount is available for registering 3 or more participants from the same company.

Overview

The Marine Insurance Masterclass Online is a series of 10 online sessions delivered over 5 days. Each day will run for 120 minutes with a short break and will focus on the interrelationship between marine insurance, charter parties and the commodity sales contract. The course covers the legal and practical aspects of hull and machinery, cargo claims and P&I.

What will you learn?

Some of the topics you will cover:

• insurance markets, products and legal rules 
• formation of marine insurance contracts 
• insurable interest, principle of indemnity and coverage

Dates and topics

Session	Date	Topic	Speaker
Session 1	Monday 23 October 2023	The insurance markets, products, and legal rules	Baris Soyer
Session 2		Role of brokers	Baris Soyer
Session 3	Tuesday 24 October 2023	Principle of indemnity and qualifications	Baris Soyer
Session 4		Pre-contractual duty of utmost good faith - an overview in the change in approach caused by the new Marine Insurance Act 2015	Baris Soyer
Session 5	Wednesday 25 October 2023	Terms in marine insurance policies	Baris Soyer
Session 6		Specialist types of cover (1): hull risks, war, and strike risks	Baris Soyer
Session 7	Thursday 26 October 2023	Specialist types of cover (2): P&I cover, fixed premium P&I, FD&D cover	Jonas Axelsen Mundt, Phillipa Reid
Session 8		Practical claims handling for P&I and FD&D cover	Jonas Axelsen Mundt, Phillipa Reid
Session 9	Friday 27 October 2023	Specialist types of cover (3): kidnap and ransom insurance products (piracy), loss of hire, cyber risks cover, charterer’s liability cover	Baris Soyer
Session 10		Case study	Baris Soyer

Starting time (for all sessions):

12:00 UTC
14:00 CEST

See the time in your local time zone.

Why choose to participate?

The issue of marine insurance is covered broadly in several other BIMCO masterclasses in relation to the special topics discussed. The purpose of this masterclass is to provide the participants with a practical understanding of the types of insurance cover available and how they interrelate and connect with the commercial process. The course will look at insurance from both shipowner and cargo owner perspectives and how the contractual relationships are influenced by the decisions and preferences of the insurance buyer and seller.

How will this course help your professional development?

This BIMCO masterclass provides participants with practical, in-depth knowledge, a multi-perspective understanding, and valuable networking opportunities:

1. Comprehensive Understanding: The masterclass provides a comprehensive understanding of marine insurance, covering various types of insurance cover available. You will gain in-depth knowledge of the subject matter, ensuring you are well-versed in the intricacies of marine insurance.
2. Practical Knowledge: The focus on practical understanding ensures that you gain real-world insights. You will learn how theoretical knowledge applies to practical situations, enabling you to make informed decisions.
3. Interconnectedness: By exploring how different types of insurance cover interrelate and connect with the commercial process, you will will develop a holistic view of the marine insurance industry. Understanding these connections is crucial for professionals dealing with chartering and logistics.
4. Perspective Building: The masterclass examines marine insurance from both shipowner and cargo owner perspectives. This dual perspective equips you with a well-rounded view of the subject. Understanding the needs and challenges from different stakeholders' viewpoints enhances your problem-solving abilities.
5. Influence on Contracts: You will learn how the decisions and preferences of insurance buyers and sellers influence maritime contractual relationships. This knowledge is invaluable when drafting contracts within the maritime industry. It allows you to create agreements that align with the insurance aspects, reducing potential legal complications.
6. Enhanced Decision-Making: Armed with a deep understanding of marine insurance and its impact on contracts, participants can make more informed and strategic decisions. Whether they are shipowners, cargo owners, insurers, or legal professionals, this knowledge enhances their ability to assess risks and devise effective strategies.

Course certification

Participants will be given an option of taking a final assessment (1-hour open-book test) at the end of the course, and Certificate of Achievement will be issued with a grade (distinction, merit or pass). Those not taking the assessment will receive a Certificate of Attendance.

Course materials

BIMCO issues electronic course files as an Adobe PDF file enabling you to make personal notes. All documentation and presentations will be in English. Course access details will be provided once the registration is completed. 

Speakers

Organiser