P068 - WORKSHOP ON MANAGEMENT OF MARINE INSURANCE (HULL) (NON-LIFE)  

Background

With the increase in national hull tonnage in a country, the demand for comprehensive insurance cover also increases.  In order that the ship owning community and other stakeholders can have a confident placement of cover, the Insurance Industry needs to develop technical skills for Insurance of the Hulls and other marine tonnages. A thorough knowledge of assessing and underwriting the risk, handling of claims, loss control, risk management, reinsurance, and liability management ensures that the portfolio is profitable and remains healthy.

 Objectives 

The programme aims to equip the participants with knowledge and skills of

    Development of Marine Hull Insurance Portfolio

    Underwriting procedures & practices of Marine Hull Business

    Better understanding of claims management

 Contents

    Marine Insurance introduction

    Legal Aspects - Marine Insurance Act, Merchant Shipping Act, laws involving safety, pollution control, admiralty jurisdiction, action in res and action in rem, liability regimes

    Shipping Practice-Port conditions and protocols, international rules, various vessel (liners, singletons, barges, lighters, yachts, country crafts, fishing trawlers, fishing factories, tankers, bulk carriers. roll on roll off vessels, heavy lift vessels) 

    Hull Classification Societies - Issues relating to sundry hulls and major hulls

     Insurance cover the ship owner needs for property and liability risks including war and piracy

    Clauses- ITC Hull (Time) & Voyage Clauses, Insurance of Fishing, Sailing vessels & Inland vessels

    Hull damages and Risk Management

    Underwriting considerations and rate calculation in the Indian Market, Hull manual 

    Claims- Reporting; unrepaired damage; appointment of surveyor; hull claim adjustment 

    An outline of the cover provided by Protection and Indemnity Club (risks covered, membership, the concept of calls, covers available, representatives of P&I clubs. their roles, payment of claims, P&I insurance as a compliment of hull insurance) 

    GA and Salvage

 

Participants Profile: Officials handling Marine (Hull) underwriting & claims posted in Head Office, Regional Offices, Operating Offices of Indian and foreign public & private sector General Insurance Companies

 Duration:       2 Days

 Dates:             17.11.2021-18.11.2021