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Attention: This course is not approved for State reported continuing education credits.
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This Online MEGA is allowed only for CIC, CRM and CPRM Dues Paid designees.
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The State of Nevada has only approved this course for 3 credits of Property & Casualty and 3 credits of Ethics.
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OVERVIEW AND TOPICS
The Insuring Vessel Owners & Operators Course is part of the PROFocus Series and designed for all insurance professionals. This 2-day course provides advanced, quality instruction covering current and practical material for the insurance professional. Participants that hold either the CIC, CRM, CPRM, CISR, or CSRM nationally recognized professional designation must attend a total of 16 hours to receive their mandatory designation update requirement.
Hull & Equipment, Collison & Towers Liabilities
Learn who needs Hull Insurance, vessel types, and the unique Hull Market Policy Forms including a deep dive into the AIHC Hull Coverage Form. The Additional Perils (Inchmaree) are explored in detail and what constitutes a good Hull Risk are reviewed. The Port Risk Endorsement and Loss of Hire Coverage including Deluxe Coverage and TDI are further discussed. A review of the Collision and Towers Liability and the tricky issues of Erosion of Limits wraps up this session.
Ocean Cargo Insurance
After an overview of the history of this oldest insurance coverage, the Open Cargo Policy versus Individual Shipment Certificates is analyzed. Learn the unique features of Ocean Cargo Commodities, Terms of Sale, and the General Clauses including the shipping methods of Refrigerated Cargo, Fresh Fruits & Vegetables, Frozen Product, Pharmaceuticals & Blood, and Bulk Liquids. Stock Throughput Insurance is explored which addresses the full exposure from raw material to final sale, transit/storage/processing/retail outlet and how coverage responds to each exposure.
Protection & Indemnity/Charterers Legal Liability
In this session, learn the unique exposures and legal remedies for Crew Injury, Wrongful Death under General Maritime Law, and Death on the High Seas, including the Aggregate Limit in the Protection & Indemnity Clause, the Running Down Clause, Valuation, Hard Crew vs Soft Crew, and how Medical Payments and Personal Effects are covered. The Course further explores Charterers Legal Liability, the Common Exclusions and Limitations of the various forms, Passenger Warranty, Permission to Charter, and other Coverages including Liquor Law, Loss of Hire, and Ticket Booth Extension.
Claim and Policy Case Study
In this in-depth Case Study presentation, learn how claims are addressed by the courts and how the various coverages respond. The case study further analyzes how policy forms are interpreted.