Course syllabus
Course-PM
MMS085 Marine risks and insurance lp4 vt22 (7.5 hp)
Course is offered by the department of Mechanics and Maritime Sciences
Contact details
Examiner and responsible for the course:
Daniel Eriksson
+46723866989
Content
The course is an introduction to marine insurance with sections covering the following topics:
- Risk evaluation (included in part 1 of the assignment)
- Swedish insurance law
- Hull and Machinery insurance H&M, NMIP 2019 (part 2 of the assignment)
- Protection and Indemnity Insurance (part 3 of the assignment)
- Cargo insurance , AV2007 and Institute Cargo Clauses ( ICC)
- Freight Demurrage and Defence (FD&D)
Learning objectives
The aim of the course is to:
- Introduce and explain the concept risk from an insurance perspective;
- From authentic information perform risk analyses of vessels and their activities;
- Provide knowledge about the regulations and agreements that governs the Swedish marine insurance market;
- Introduce and provide skills in understanding and interpreting insurance rules and conditions;
- In authentic cases assess and adjust damage and claims in accordance with applicable rules, in particular in connection with hull- and P&I-insurance
Learning outcomes (after completion of the course the student should be able to)
- Explain and define the concept of risk from an insurance perspective;
- Identify areas of risk and exposure for maritime, transport and adjacent activities
- Evaluate risk and present risk analyses;
- Account for the insurance market's risk distribution through co-assurance and reassurance;
- Account for the laws and regulations that governs the Swedish marine insurance market;
- Orient and navigate in the insurance rules;
- Adjust claims in accordance with Hull-conditions;
- Evaluate liability claims in relation to law and apply P&I-insurance rules;
- Apply cargo insurance conditions.
Organisation
Lectures
Introduction and
guest lectures have mandatory presence. The aim of the lectures is to
explain concepts, exemplify situations and to review and discuss court
cases, texts of agreements and clauses.
Literature studies
Students are encouraged to read before each lecture in the course description given literature.
Study questions
For each area there are study questions which largely reflects the learning
outcomes of the course and are designed in a similar way to exam
questions.
Assignments
Three written assignments in PM-form made in groups of 1-2 students depending on number of students in the class.
Written exam
Written, digital examination.
Examination including compulsory elements
The course is examined by the assignments (Part A) and a digital exam (Part B).
Grades
0-59% = F
60-73% = 3
74-87% = 4
88% - = 5
Each part is graded with F/3/4/5. The grade of the assignments (Part A) constitute the main grounds for the final grade. If a student is close to achieving another grade on the assignments, a higher grade on the digital exam (Part B) may raise final grade by one step.
Schedule
Course summary:
| Date | Details | Due |
|---|---|---|