Description
Course Outline
Module 1: Demonstrating knowledge & understanding of transportation insurance
Where did it all start?
- Lloyd’s of London
- Two basic types of marine cargo insurance policy
- Choice of a broker
- Piracy and Ransoms
- Information required to place cargo insurance
- The insured
- Vessel name/description of conveyances
- Voyage
- Description of interest to be insured plus type of packaging
- Value/basis of valuation
- Conditions of insurance
- “C”, “B”, “A” clauses
- War clauses plus strikes, riots & civil commotions
- Rates & Deductions
Incoterms® 2020 Rules
- Classes of Rules
- How to ensure that the Incoterms® 2020 are correctly used in contracts of sale
- Main Features
- Modes of transport & Division of Rules
- Rules for domestic and international trade
- Explanatory notes for users
- Electronic communication
- Insurance cover
- Security-related clearances and information required for such clearances
- Terminal handling charge
- String sales & Variations of Incoterms rules
Rules for any mode/s of transport
- Ex Works
- Free Carrier
- Carriage Paid To
- Carriage & Insurance Paid To
- Delivered at Place Unloaded
- Delivered at Place
- Delivered Duty Paid
Rules for sea and inland waterways
- Free along Side
- Free on Board
- Cost & Freight
- Cost Insurance & Freight
Ports
- South African Ports
Marine Liability Insurance
Hull Insurance
Broking & Underwriting Exercise
Module 2: Claims
- Claims Philosophy
- Does policy cover the risk?
- When did the loss incur?
- Cause of Loss
- Special Aspects
- Was the loss during the period of cover?
- Guarantees & Consequential Loss
- What caused the loss
- Under Insurance
- Damage to Packaging
- Fear of Loss, Compensation
- Sale of Damaged Cargo
- Subrogation Form
- How much do we pay?
- Calculations
- Documents Required
- Claims Exercise
Modules 3: Recoveries
Documents Required
- Subrogation Form
- Document of affreightment
- Supplier’s invoice
- Packing list
- Claused receipt/goods received note
- Survey report
- Clearing agent’s account
- SAD500
- Recoveries Exercise
Module 4: General Average
Forms Required
- Average Bond
- Valuation Form
- Non-separation Agreement
- Deposit Receipt
- Guarantee
Salvage Principles & Charges
Course Materials
Participants receive a detailed course workbook, plus an electronic copy of SWISS-RE insurance publication “Marine Insurance”
Facilitator
Alexander Robertson— Over 40 years Maritime Insurance experience including SA cargo survey and claims agent for Lloyd’s of London.
