The objective of this unit is to demonstrate knowledge and understanding of cargo and goods in transit risks and their insurance.
The default Enrolment option for this unit includes:
- Latest version of the core learning content, in digital format only, delivered on RevisionMate.
- Assessment entry.
Cargo and Goods in Transit Insurances (M90) deals with the insurance of goods in transit from consignor to consignee anywhere in the world.
Cargo insurance is the insurance of the goods against loss or damage and is related directly to the value of those goods. The study text includes the main internationally recognised London marine clauses that provide cover, as well as those clauses designed for specific types of goods.
Goods in transit insurance covers the legal liabilities of the bailees of those goods while they are in their possession for the purposes of delivering them from consignor to consignee — from the seller to the buyer.
This text covers legal liabilities and the insurance available to the owner of the goods in transit from the premises of the seller up to delivery at the premises of the buyer. International conventions including the Hague-Visby Rules, the Hamburg Rules, the CMR Convention and the CIM Convention are considered.
It looks at goods typically traded, the risks they are exposed to and finally claims considerations and practices associated with both cargo and goods in transit insurances.
Building a successful career in insurance
This course is ideal for anyone looking to gain knowledge and understanding of cargo and goods in transit insurances to build a successful career in the insurance profession or in a support function. Cargo and Goods in Transit Insurances (M90) counts towards a Diploma in Insurance. It may also count towards the Advanced Diploma in Insurance.
Please note it is assumed that you already have knowledge of the fundamental principles of insurance as covered in Insurance, Legal and Regulatory (IF1) or equivalent examinations.
Summary of learning outcomes
- Understand the business environment of shipping and world trade.
- Understand the legal and regulatory environment of cargo and goods in transit risks.
- Understand the scope of cover for cargo.
- Understand the scope of cover for haulage contractor’s liability.
- Understand the underwriting of cargo and goods in transit insurance.
- Understand claims considerations and procedures for cargo and goods in transit.
- Coursework assignment with 10 compulsory short answer questions (marked within 63 calendar days of submission); and a 60 minute exam comprising 50 multiple-choice questions (MCQs)
- 60% coursework pass mark
- 65% exam nominal pass mark
- The average pass rate for those completing Diploma in Insurance mixed assessment units in full is currently 92.0%
- Coursework assignment to be submitted within 6 months of enrolment
- Exam to be passed within 18 months of enrolment (only first exam entry included as part of the enrolment)
Units treated as equivalent
Due to the extent of syllabus overlap, certain combinations of current and withdrawn units will result in only one award of credits.
If a withdrawn equivalent is held you may not need to complete a current unit in order to satisfy a qualification's completion rules. Clarification should always be sought from CII Customer Service.
Instructions on accessing your course on RevisionMate will be sent to your registered email address. This is typically within two working days of your order being placed, but may be longer, particularly if payment is made by bank transfer or the unit is available as a pre-order.
Study material - editions available
2023-24 edition (applicable to exams sat 01 May 2023 to 30 Apr 2024)