Ocean Marine Insurance
Why you need this course:
Overseas trade by oceangoing vessels creates several loss exposures. These loss exposures exist not only for the owners of the cargo being shipped, such as manufacturers, importers, and exporters, but also for the owners of the vessels in which the cargo is being transported. Typically, these loss exposures are not adequately covered by commercial property forms. Understanding the coverages provided by ocean marine insurance will help you decide when a loss exposure requires the additional coverage it provides.
Upon successful completion of all four modules in this course, you should be able to:
- Describe the loss exposures faced by owners of cargo and vessels in overseas trade.
- Describe the following types of ocean marine insurance, including the policy provisions commonly found in each:
- Cargo insurance
- Hull insurance
- Protection and indemnity insurance
- Explain why judgment rating is often needed for pricing ocean and inland marine insurance.
- Recommend an ocean or inland marine policy form to cover a described exposure.
We recommend that you study the modules in the order presented in the course.
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